NXP Semiconductors, Penn National Gaming Joining S&P 500

Xerox Holdings, Flowerserve among companies being removed from benchmark index effective March 22.
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S&P Dow Jones Indices announced changes to the S&P 500 index after the bell Friday that will see four companies added and four others removed from the benchmark, effective March 22.

NXP Semiconductors NV  (NXPI) - Get Report ,Penn National Gaming  (PENN) - Get Report, Generac Holdings  (GNRC) - Get Report and Caesars Entertainment  (CZR) - Get Report will all move to the S&P 500.

They will replace Flowserve Corp.  (FLS) - Get Report, Green Realty Corp.  (SLG) - Get Report, Xerox Holdings Corp.  (XRX) - Get Report and Vontier Corp.  (VNT) .

In addition, S&P 500 components Broadcom  (AVGO) - Get Report, T-Mobile US Inc.  (TMUS) - Get Report and Linde plc  (LIN) - Get Report, will replace Allstate Corp.  (ALL) - Get Report, Kinder Morgan  (KMI) - Get Report and Schlumberger NV  (SLB) - Get Report in the S&P 100 index. The replaced companies will remain in the S&P 500 index. 

Shares of NXP Semiconductors rose $11.38, or 6.2% to $194.85 in after-hours trading. Penn National Gaming shares gained $8.03, or 6.15%, to $138.50. Generac rose $13.50, or 4.1%, to $342.80. Caesars Entertainment gained $4.28, or 4.25%, to $104.90. 

Among the companies being removed, Flowserve edged up 28 cents, or 0.7%, to $41.68. SL Green Realty fell 0.97, or 1.25%, to $76.79. Xerox Holdings slipped 23 cents or 0.85%, to $26.68. Vontier fell 32 cents, or 1%, to $30.76.

All of the changes take place effective March 22, S&P Dow Jones Indices said in a statement. 

The changes were the first since Elon Musk's electric vehicle maker Tesla  (TSLA) - Get Report joined the index in December. Shares of the company closed Friday at $693.73, just below where they stood before becoming an S&P 500 component. 

On Wall Street Friday, the Dow Jones Industrial Average rose but the Nasdaq slumped as Treasury yields jumped to the highest level in more than a year, a day after optimism over the $1.9 trillion U.S. pandemic relief package sent equities to record highs. The Dow Jones Industrial Average rose 240 points, or 0.74%, to 32,725, and set an intraday record high. The S&P 500 slipped 0.05% and the tech-heavy Nasdaq dropped 0.77%.

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