Dell and Palantir shares both surged in extended trading on Friday after S&P Global announced that the two technology companies would join the S&P 500 U.S. stock index.
Palantir will take the place of American Airlines, and Dell is replacing Etsy, according to a statement.
In 2020 Palantir went public on the New York Stock Exchange, and in the fourth quarter of 2022, the company started posting profits. In the second quarter, Palantir’s net income totaled $135.6 million, up from $27.9 million in the same period a year earlier.
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