Blackstone, Airbnb rise on S&P 500 inclusion

uniQure

05/09/2023 11:04

** Asset management giant Blackstone Inc's  BX.N  shares up
4.5% at $109.20 premarket, and vacation lodging platform Airbnb
Inc's  ABNB.O  stock up 5% at $139.29 as both cos to join S&P
500  .SPX  later this month to coincide with quarterly rebalance
    ** BX and ABNB to replace life insurer Lincoln National Corp
 LNC.N  and consumer products maker Newell Brands  NWL.O ,
respectively, before markets open on Sept 18, S&P Dow Jones
Indices announced late Fri
    ** Firms entering the SPX typically see their stocks rise as
actively managed funds benchmarking the index buy shares
    ** BX's shares up ~41% YTD through Fri for ~$127.6 bln
market cap, per Refinitiv
    ** ABNB's stock up ~55% this year for ~$86 bln market value
    ** In turn, LNC and NWL will replace gene therapy developer
Uniqure NV  QURE.O  and Universal Insurance Holdings Inc  UVE.N 
in S&P SmallCap 600  .SPCY 

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))