Marvell, Flex to enter S&P 500 on June 22, replacing 2 firms
What's new: Marvell rose 5% and Flex gained 4% after the index change, underscoring tech's growing weight in US equities.
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 two technology-linked manufacturers to Wall Street's most widely followed stock gauge. Marvell, a Santa Clara, California-based chipmaker tied to the AI infrastructure buildout, climbed 5% in extended trading after the move. Flex, an electronics contract manufacturer headquartered in Singapore with operations across the US and Asia, rose 4%. Marvell got another boost earlier in the week after Nvidia CEO Jensen Huang pointed to the company's growth potential and Nvidia disclosed a $2 billion investment.