Twitter Inc. is slated to join the S&P 500 before trading opens on Thursday, according to S&P Dow Jones Indices, as the social-media platform replaces Monsanto Co. on the widely watched index.
Twitter TWTR, +3.36%[1] is supplanting Monsanto MON, +0.24%[2] as the agricultural company is due to be acquired by German pharmaceutical and chemical conglomerate Bayer AG BAYRY, -0.74%[3] BAYN, -0.45%[4] in a deal expected to be completed soon. The move also means mutual and exchange-traded funds that track the S&P 500 SPX, +0.45%[5] will have to add Twitter to their holdings.
S&P said Netflix Inc. will replace Monsanto on the S&P 100. Netflix NFLX, +0.52%[6] , founded in 1997, closed Monday trading with a market capitalization of $157.28 billion.
It is unusual that S&P included Twitter in the S&P 500 because companies are supposed to have four straight quarters of positive as-reported profits. In April, the social-media company reported its second consecutive profitable quarter after 16 straight quarters of losses. Twitter has said it expects to be profitable for the full year.
An expanded version of this report appears on WSJ.com[7].
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References
- ^ TWTR, +3.36% (www.marketwatch.com)
- ^ MON, +0.24% (www.marketwatch.com)
- ^ BAYRY, -0.74% (www.marketwatch.com)
- ^ BAYN, -0.45% (www.marketwatch.com)
- ^ SPX, +0.45% (www.marketwatch.com)
- ^ NFLX, +0.52% (www.marketwatch.com)
- ^ An expanded version of this report appears on WSJ.com (www.wsj.com)
- ^ Why robocallers win even if you don’t answer (www.wsj.com)
- ^ Supreme Court ruling ducks conflict between religious, gay rights (www.wsj.com)