UiPath Inc (NYSE:PATH) shares jumped 6% on the news that the automation platform will be added to the S&P MidCap 400 prior to the opening of trading on January 2, replacing Synovus Financial.
The change follows an agreement under which S&P MidCap 400 constituent Pinnacle Financial Partners is acquiring Synovus Financial in a transaction expected to close soon, subject to final closing conditions.
Additionally, it was announced that Versant Media Group will be added to the S&P SmallCap 600, replacing Brandywine Realty Trust, effective prior to the opening of trading on January 6.
The addition follows the planned spin-off of Versant Media Group by Comcast, which is expected to be completed on January 5. Comcast, an S&P 500 constituent, will remain in the S&P 500 following completion of the spin-off, S&P Dow Jones Indices said.