Apollo Global Management Inc. has been added to the S&P 500 index in the latest quarterly weighting change, joining alternative asset manager Blackstone Inc. on the world’s most-watched equity gauge. Workday Inc. has been included too.
The two companies will replace Qorvo Inc. and Amentum Holdings Inc., according to a press release from S&P Dow Jones Indices Friday. The changes are set to go into effect prior to the open of trading on Dec. 23.
Shares in Apollo have climbed more than 25% since the company reported adjusted net income of $1.13 billion, beating estimates. That rally lifted the firm’s market value by about $21 billion to $100 billion, making it one of the largest US companies eligible to be added to the S&P 500.
