On Friday, S&P Dow Jones Indices said that there would be a change to the Standard & Poor’s 500 Index at the end of this week.
After the close of trading on Mar. 21, Keurig Green Mountain (GMCR) will join the S&P 500 Index. Keurig Green Mountain will replace WPX Energy (WPX) on the highly-watched stock index, Bloomberg noted.
Not surprisingly, GMCR stock climbed almost 3% in Monday pre-market trading. By contrast, WPX shares were unchanged.
After WPX is displaced on the S&P 500 Index by Keurig Green Mountain, it will take the spot previously occupied by Keurig Green Mountain on the S&P MidCap 400 index.
Green Mountain Coffee Roasters officially changed its name to Keurig Green Mountain earlier this month. The name Keurig Green Mountain is designed to incorporate both its coffee brands and its popular line of Keurig coffee brewing machine. The company’s shareholders cleared the name change.
GMCR stock has more than doubled in value over the last year.
More Coffee News: