DataDog Stock jumps to include in S&P 500 index

datadog Stocks rose 10% in Wednesday’s expansion trading after S&P Global said its surveillance software provider would replace Juniper Network, the S&P 500 US stock index.

S&P Global has made the changes effective before the July 9th trading begins, according to a statement.

Computer Server Manufacturer Hewlett Packard EnterpriseIt also said on Wednesday it completed its acquisition of Juniper, which makes networking hardware for its data centers, as a component of the index. HPE disclosed in a filing that it had paid $13.4 billion to Juniper shareholders.

Over the weekend, the companies reached a settlement with the US Department of Justice. As part of the settlement, HPE has agreed to sell global instants on its campus and branch businesses.

Tech already has a large portion of the S&P 500, but as the industry expands into more areas of society, the index continues to de-expose.

Doordash It was the latest tech company to participate during the final rebalancing of March. Cloud Software Vendor Working days It was added in December, but it preceded the first half of 2024. Palantir, Dell, Cloud Strike, Godaddy and Super Microcomputer.

Stocks often ralise when added to a major index, as fund managers will have to readjust their portfolios to reflect changes.

According to a statement, New York-based Datadog was released in 2019. Included in competitors CiscoI bought a Splunk last year. Elasticity Cloud infrastructure providers, etc. Amazon and Microsoft.

Datadog has not performed a wide range of high-tech sectors so far this year. As of the end of Wednesday, stocks had fallen 5.5%, while Nasdaq had risen 5.6%. Still, with a market capitalization of $466 billion, Datadog’s valuation is significantly higher than its median index.

– CNBC’s Ari Levy contributed to this report.

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