Marvell, Flex join S&P 500 on June 22, replacing 2 companies
What's new: Marvell rose 5% and Flex 4% after hours as the reshuffle adds two tech-linked names to the benchmark.
Marvell Technology and Flex will enter the S&P 500 on June 22, replacing Pool Corp and The Campbell's Company in the benchmark index. The change adds another semiconductor-linked company to the index as demand tied to artificial intelligence infrastructure lifts the sector's weight in US markets. Marvell shares gained 5% in extended trading after the index update, while Flex rose 4%. Marvell, based in Santa Clara, California, makes chips and other components used in AI systems. Flex, formerly Flextronics, is headquartered in Singapore and manufactures electronics for major technology companies including Apple and Nvidia, with operations across the US and Asia.