Jabil Inc. and Builders FirstSource Inc set to join S&P 500

Uber Technologies Inc., provides ride-hailing services, food delivery, and freight transport. It is headquartered in San Francisco and operates in around 70 nations and 10,500 cities worldwide. Reportedly, Uber Technologies Inc. has been added to the S&P 500 Index, after saying two straight quarters of using proceeds that have fueled a big rally in the ride-sharing firm this year. Jabil Inc. and Builders FirstSource Inc. have been set to join also. Now people are super curious to know about the whole information about the news. Here we have more information about the news, so please read the complete article.

Builders

S&P Dow Jones Indices stated in a press release late Friday that San Francisco Uber and the latter two firms will substitute Sealed Air Corp, SolarEdge Technologies Inc., and Alaska Air Group Inc in the S&P 500, respectively. The new reserves will join the index before the market opening on 18 December. Uber shares were up 7.3% in after-hours trading. They have gained 132 percent this year. Manufacturing services firm Jabil shares were up by 4.6% and supplier and manufacturer Builders FirstSource saw post-market earnings of close to 7%. Swipe up the next page for more information about the news.

Wall Street analysts had expected Uber would be added to the index after the firm’s third quarter showed a second consecutive profitable quarter an economic viability requirement for inclusion in the benchmark index after the firm’s quarter – a financial viability condition for inclusion in the benchmark index. Before its inclusion, Uber was the largest US firm eligible to be added to the S&P 500 with a market capitalization of over $118 billion. You are on the right page for more information about the news, so please read the complete article.

Also Read:  Intel share its expertise to facilitate the production of complete entry-level laptops

Uber’s rideshare business persisted to expand faster than analysts predicted in the third quarter, thanks to improvement in driver supply and trip development from back-to-school rides and the return of corporate travel. Uber also included fresh offerings in the past quarter such as partnering with Alphabet Inc.s’ Waymo to provide ride-hailing of autonomous vehicles on its app, starting in Phoenix. Gross booking in the mobility or rideshare business jumped 31 percent. Singh stated “It also established Uber’s category leadership position among the gig economy peers. Here we have more information about the news if we get any information then we will update you as soon as possible. So please read the complete article.

Mark
Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.