Akamai Added to S&P 500

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Standard & Poor’s said Monday that Akamai Technologies Inc. (AKAM), which provides technology for online content streaming, will replace medical device maker Biomet Inc. in the S&P 500 after the close of trading on Wednesday. Biomet is being acquired and taken private bv a private equity consortium.

In aftermarket trading, shares of Akamai added $2.04, or 4.3 percent, to $49.57. Shares of companies added to the S&P 500 typically see a short-term benefit to their share price, as their inclusion triggers share purchases by index funds that seek to replicate the movements of leading indices like the S&P 500.

About the Author

Rich Miller is the founder and editor at large of Data Center Knowledge, and has been reporting on the data center sector since 2000. He has tracked the growing impact of high-density computing on the power and cooling of data centers, and the resulting push for improved energy efficiency in these facilities.