Hyatt Hotels (NYSE:H) Corp shares jumped more than 5% on Tuesday after the company was promoted to a leading stock index.
The hotel chain will replace National Instruments (NASDAQ:NATI) Corp in the S&P midcap 400 effective prior to the opening of trading on Thursday, October 12.
The move comes after S&P 500 constituent Emerson Electric (NYSE:EMR) Co. acquired National Instruments (NASDAQ:NATI) in a deal which is expected to be completed soon, pending final conditions.
Shares in Hyatt were up 5.6% in pre-market trading after closing at $104.46 on Monday.