ServiceNow  (NOW) - Get Report , the cloud computing company, was rising Tuesday after it was announced the stock would join the S&P 500 index on Thursday.

ServiceNow of Santa Clara, Calif., will replace Celgene (CELG) - Get Report , which is close to being acquired by Bristol-Myers Squibb (BMY) - Get Report , in the index, according to S&P Global.

ServiceNow shares were rising 3.94% to $276.82. The stock has risen nearly 50% so far in 2019, and has jumped more than 1,000% since its initial public offering in 2012.

Celgene was down slightly to $108.96.

ServiceNow posted strong third-quarter earnings at the end of October, the same week it named Bill McDermott, the former CEO of SAP, as chief executive.

The company reported earnings of $1.03 a share on revenue of $885.8 million, a 32% year-over-year increase. Analysts were expecting the company to report earnings of 99 cents a share on revenue of $886 million.

McDermott was named to replace CEO John Donahoe, who will be joining Nike (NKE) - Get Report as CEO in January.

In an interview with Bloomberg, McDermott said he wants to build a global juggernaut with ServiceNow.

"The company is on a roll. I'm going to fortify that and continue that. The experience of what I know and I've seen will be incredibly helpful to ServiceNow. This company will be a global juggernaut," McDermott said.

On Monday, ServiceNow said it named Gina Mastantuono as chief financial officer, effective Jan. 13, 2020. Mastantuono joins the company from Ingram Micro, where she served as finance chief.

Separately, it was announced Thermo Fisher Scientific (TMO) - Get Report would be joining the S&P 100.