The stock of San Diego-based Illumina Inc. jumped by over $5 per share Thursday on news that the fast-growing maker of genetic sequencing equipment would be added to the S&P 500 Index.
S&P Dow Jones Indices announced that Illumnia would replace Sigma-Aldrich Corp., a maker of specialty chemicals, after the close of trading next Wednesday.
Illumina’s stock closed at $155.39 on NASDAQ, but was trading at nearly $162 after hours.
Companies in the S&P 500 are considered leaders in leading industries and must have a large market capitalization. The index is is one of the most commonly followed gauges of the wider stock market.
