The S&P 500's newest member is this under-the-radar software stock
Veeva Systems will join the S&P 500 index on May 7, replacing Coterra Energy, with its stock surging 9% in after-hours trading. Veeva, a life-sciences software company, had a $25 billion market cap as of Thursday's close.
Veeva Systems, a life-sciences software company, is set to join the S&P 500 index on May 7. The company will replace Coterra Energy, which is being acquired by Devon Energy. Veeva's stock soared 9% in after-hours trading upon the news. The company's market cap was $25 billion as of Thursday's close. Veeva makes cloud software that helps life-sciences companies manage clinical, commercial, and regulatory matters. Its shares have been down 30.1% this year due to a software sector selloff.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.