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Shares of

VeriSign

(VRSN) - Get VeriSign, Inc. Report

were up nearly 10% on Thursday, on news that the company will be added to the

S&P 500

TheStreet Recommends

index next month.

The e-commerce security firm replaces

Reebok

( RBK) after the market closes on Jan. 31.

VeriSign was recently trading at $23.19, up $1.99, or 9.4%. The stock had traded nearly double its usual volume, with 7.53 million shares changing hands.

The company will report its fourth-quarter earnings at the close of the market on Thursday. A Thomson First Call consensus analyst estimate expects the company to earn 26 cents a share and $391 million in revenue.