Twitter set to join S&P 500 index, stock jumps on news

New York: Twitter’s stock jumped more than three per cent after hours following the news that the microblogging site will be added to the S&P 500 stock index before the start of trading on Thursday, the media reported.

S&P Dow Jones Indices announced on Monday that Twitter will replace Monsanto on its index of top US public companies, CNNMoney reported.

Netflix will replace Monsanto in the S&P 100 and Twitter will replace Monsanto in the S&P 500, according to an official statement from S&P Dow Jones Indices.

The US Justice Department last week approved the sale of Monsanto to Germany’s Bayer, so long as the merged agrochemical company divests approximately $9 billion in businesses and assets.

Bayer said it expects to complete the $63 billion acquisition on Thursday.

The new conglomerate will retire the Monsanto brand name once the deal is completed, the report said.