By Stephen Nakrosis
SiTime Corp. will be joining the S&P MidCap 400 on Nov. 30, replacing Emergent BioSolutions Inc., S&P Dow Jones Indices said Monday.
Emergent will move to the S&P SmallCap 600 on that date, replacing Domtar Corp., which is being acquired by Paper Excellence NV, according to S&P Dow Jones Indices. “Emergent BioSolutions is more representative of the small-cap market space,” S&P Dow Jones Indices said.
Shares of SiTime, which makes timing devices, were trading higher in Monday’s after-hours market. At 5:29 p.m. ET, the company’s shares were trading 8.71% higher at $274.01 a share.
The company’s stock finished the day’s regular-trading session with a 12.35% loss, closing at $252.06.
Emergent Biosolutions shares were also trading higher after hours. At 5:29 p.m. ET, its shares had risen 7.78% to $42.97 a share.
The biopharmaceutical company’s stock finished the day’s regular-trading session with a 0.5% loss, closing at $39.87 a share.
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