Marvell, Flex enter S&P 500 on June 22, replacing 2 firms
What's new: Marvell rose 5% and Flex gained 4% after hours as the index adds more AI-linked tech exposure.
Marvell Technology and Flex will join the S&P 500 on June 22, replacing Pool Corp and The Campbell's Company, in the latest reshuffle of the benchmark U.S. stock index. Marvell, a chipmaker tied to the buildout of artificial intelligence infrastructure, jumped 5% in extended trading after the change was disclosed. Flex, an electronics contract manufacturer with operations across the U.S. and Asia, rose 4%. The additions extend a broader shift toward technology names in the S&P 500, following recent inclusions such as AppLovin, Datadog, DoorDash, Robinhood and Veeva Systems. Marvell is based in Santa Clara, California, while Flex is headquartered in Singapore.