Avid Technology jumps on S&P SmallCap 600 entry

Avid Technology

29/08/2022 22:56

** Shares in Avid Technology  AVID.O  rise 9.8% to $26.50 in
extended trading
    ** S&P Dow Jones Indices says Avid Technology will replace
Poly  POLY.N  in the S&P SmallCap 600 effective prior to the
market open on Thursday  urn:newsml:reuters.com:*:nFWN3051EW
    ** As of last close, Avid had a market capitalization of
$1.08 billion, according to Refinitiv
    ** Avid, which develops software for video and audio content
creation and distribution, in March reported total net revenue
of $409.9 million and net income of $41.4 million for 2021 
    ** S&P 500  .SPX  constituent HP  HPQ.N  announced on Monday
before markets opened that Poly acquisition had been completed
 urn:newsml:reuters.com:*:nGNX2vnKD
    ** Through last close, Avid shares had lost a quarter of
their value this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))