Shares of Palo Alto Networks Inc. rose in extended trading on Friday after S&P Dow Jones said it would include the cybersecurity platform company’s shares in the S&P 500.
Palo Alto Networks is up year-to-date after it recently reported earnings and believes AI will transform the software industry in the next 12 months 55.7%, resulting in a market capitalization of $66.44 billion. The S&P 500 is up 11.5% for the year.
Read: Palo Alto Networks, Software Industry Will Change Over the Next 12 Months Artificial intelligence ‘transformation’ within, CEO says
Dish shares fall nearly 3% after hours after being downgraded to a different S&P. Shares of Amazon.com Inc. AMZN, +1.21% rose 16.2% in Friday’s regular session following a report on talks Offers free mobile phone service to Prime members.
Dish to replace skin care device maker Cutera Inc. CUTR, +1.12% S&P MidCap 400 Index MID, +3.27%, S&P said, noting that the changes were made “to ensure that each index is more representative of its market capitalization range.” Dish shares are down 48% this year, with a market capitalization of $3.89 billion.
READ: Verizon Stock Falls to 12-Year Low While Dish soared after a report that Amazon was in talks to offer a mobile plan for Prime members
Cutera rose 1.1% to close at $17.15 on Friday after shares fell more than 5% after hours. Shares of the company had fallen 61.2% year-to-date as of Friday’s close, as the company underwent a leadership shakeup and had a market value of $340 million, according to FactSet data.
READ: Cutera stock slips after earnings; company names interim CFO officials, board agreement with big investors
Other changes in the S&P small cap index also sent other stocks into after-hours motions late Friday.
Stock Planet Fitness Inc. PLNT, +0.92%, Zoominfo Technologies Inc. ZI, +2.08%,
Doximity Company DOCS, + 4.69%,
and BWX Technologies Inc. BWXT, +2.49 %
rose 4% after hours on Friday, with S&P moving the stock to the midcap index.
Meanwhile, shares of Crown Holdings Inc. CCK, +3.98%,
Dropbox Inc.DBX, +2.11%,
Graphic Packaging Holding Co. GPK, +3.48%,
and Wesco International Inc . WCC, +7.23%
all up at least 2% or more as they contain mid-cap stocks.
Shares of CarGurus Inc. CARG, +1.99% Soared 6% after S&P said it would add auto research and shopping site to its S&P SmallCap 600 SML, +4.06%.
PetMed Express Inc. PETS stock, +3.24%, Children’s Place Inc. PLCE, +9.05%, and Zumiez Inc. ZUMZ, -1.46%
Gannett Corporation GCI, +2.74% and LendingTree Inc. TREE, +7.89% were both down more than 3 percent after being removed from the small-cap index as planned late Friday.