Marvell, Flex enter S&P 500 on June 22, replacing 2 companies
What's new: Marvell rose 5% and Flex gained 4% after hours as the reshuffle added two tech-linked manufacturers to the benchmark.
Marvell Technology and Flex will join the S&P 500 on June 22, replacing Pool Corp. and The Campbell's Company in the benchmark index. The change adds another semiconductor name to the widely followed gauge and brings in a major electronics manufacturer with ties to Apple and Nvidia. Marvell shares climbed 5% in extended trading, while Flex rose 4%. Marvell, based in Santa Clara, California, has benefited from demand tied to AI infrastructure. Earlier this week, Nvidia CEO Jensen Huang pointed to Marvell as a potential "next trillion-dollar company" and Nvidia invested $2 billion in the chipmaker. Flex, formerly Flextronics, is headquartered in Singapore and runs factories in the United States and Asia.