ON Semi, VICI, Keurig Dr Pepper jump on S&P 500 additions

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Big changes are afoot in the S&P 500, as Dow Jones Indices shuffles three companies in and out of the index along with its quarterly review.

ON Semiconductor (NASDAQ:ON) is up 6.5% after hours; VICI Properties (NYSE:VICI) is up 6.2%; and Keurig Dr Pepper (NASDAQ:KDP) is up 5.4% postmarket as all three companies make the move to the S&P 500 Index.

Exiting the index to make room are Cerner (CERN), expected to be acquired soon by Oracle, as well as Under Armour (UAA) and IPG Photonics (IPGP).

Meanwhile, several names are joining the S&P SmallCap 600: Trinity Industries (TRN), Urban Outfitters (URBN), Yelp (YELP), LiveRamp Holdings (RAMP), and Ironwood Pharmaceuticals (IRWD). Ironwood is up 2% after hours, and URBN is up 0.4% postmarket.

Updated 5:44 p.m.: Making room for Trinity Industries and exiting the SmallCap 600 is Endo International (ENDP), and making room for Yelp and leaving the index is Red Robin Gourmet Burgers (RRGB). Endo is down 5% postmarket, and Red Robin is down 5.6%.

Sotera Health (SHC) and Shockwave Medical (SWAV) will move into the MidCap 400. SHC is up 1.1% and SWAV up 7.8% after hours. Making room for Urban Outfitters and LiveRamp and exiting the SmallCap 600 are Tactile Systems Technology (TCMD) and Vera Bradley (VRA). And making room for Ironwood is Greenhill & Co. (GHL). TCMD is down 5.4% postmarket; and VRA down 1.2%.

VICI’s entry into the S&P 500 will take place prior to the open of trading on Wednesday, June 8. Other changes will be effective prior to the open of trading Tuesday, June 21 after the Juneteenth market holiday on June 20.