Block stocks S & P 500 entry 10%

Block The Shares are more than 10% in extended trade on Friday for joining the Fintech company S & P 500 Hess.

S & P is the second change of benchmark this week after global declared Advertising technology company on Monday Trading table S & P will be added to 500. The software manufacturer obtained by the trading table receives the location of ANSYS Synops In an agreement connecting Thursday.

Hess’ course comes only after Bar The purchase of $ 54 billion oil producer has been completed Exxon Mobile In the South American people in the legal dispute on the offshore oil assets.

Block, a statement From S & P. When the shares are often added to a large index, the fund managers must redistribute their portfolios to reflect changes.

Most changes in the S & P 500 occur during the quarterly re-balance of the index. However, in case of closing a procurement, a company can be removed from the index and the schedule can be changed. Last week monitoring software company Datadog took the place of juniper networks In S & P 500 as part of the quarterly change of index.

The bloc attachment reflects the market cover of companies in the sector, which further develops an index moving in this direction in recent years. The company has expanded to the popularity block, cryptista, credit and other financial services due to rapid growth of payment terminals.

Square founded by Jack Dorsey in 2009 changed its name To block the attention of blockson technologies in 2021.

Block shares develop a larger US market below 14% this year. Nasdaq has gained more than 8%, S & P won 500 7%. Still, with a market cap of about $ 45 billion, the block is well appreciated on the Index Median.

Block was reported in May The first quarter results This has missed Wall Street expectations on Thursday and a disappointing worldview, leadership to plunge in the stock price. The second quarter of the block and the forecast for full year, the difficult economic conditions watched the tariff ads sweeping the tariff ads President Donald Trump.

“We recognize that we work in a more dynamic macro environment, so we reflected a more cautious position to our leadership for the rest of the year,” the company wrote in a quarterly report.

The company is planned To report the second quarter results after the closure of regular trade on August 7.

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