S&P 500 bets on Penn National Gaming and Caesar’s in index reshuffle

Penn has seen its stock rise nearly 750% in the past year amid further legalization of sports betting and its investment in popular sports website Barstool. Barstool founder Dave Portnoy has talked about the stock often while taking up investing publicly during the COVID-19 pandemic. Penn stock closed at a record high of $130.47 Friday, then gained about 7% in after-hours trading following the announcement.

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Caesar’s has also enjoyed strong gains in the past year, after falling in late February and early March of last year as fears of the impending pandemic grew. Caesar’s shares have gained 550% in the past 12 months, and prices rose more than 5% in after-hours trading.

NXP stock has roughly doubled in the past year, amid shortages of semiconductors that have acutely hit automotive manufacturers, a key segment for NXP, and shares rose more than 5% in the extended session. Generac has increased nearly 250% in the past 12 months, and gained about 4% in late trading.

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Xerox stock has struggled despite investor Carl Icahn agitating for change at the printing giant while owning more than 15% of the shares. The stock plunged after an attempted hostile takeover of HP Inc. HPQ, -0.20% failed early last year, and has gained 12.6% in the past 12 months as the S&P 500 added 58.8%. Xerox shares declined less than 2% in after-hours action Friday. SL Green and Vontier shares also declined less than 2% in after-hours trading Friday, while Flowserve was steady.