Tesla jumps 9%, carmaker to join S&P 500
By Noel Randewich (Reuters) - Shares of Tesla Inc surged 9% in extended trade on Monday after S&P Dow Jones Indices announced that the electric carmaker would join the S&P 500 index , a major win for Chief Executive Elon Musk and his shareholders.
By Noel Randewich
(Reuters) - Shares of Tesla Inc
Tesla will join the S&P 500 prior to the opening of trading on Dec. 21, S&P Dow Jones Indices said in a news release.
Due to Tesla's unusually large market capitalization, S&P Dow Jones Indices said it would consult investors about whether the company should be added all at once or in two separate tranches.
With a market capitalization over $380 billion, Tesla is one of the most valuable companies on Wall Street.
Tesla's inclusion in the widely followed stock market index means investment funds that track the S&P 500 will have to buy billions of dollars worth of the company's shares.
A blockbuster quarterly report in July cleared a major hurdle for Tesla's potential inclusion.
(Reporting by Noel Randewich; Editing by Leslie Adler and Peter Cooney)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
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