Block to Replace Hess in S&P 500 Index. Shares Jump on Admission News. - Barron's
1. XYZ will replace Hess in the S&P 500 index due to Chevron's acquisition. 2. Block shares rose 11% to $80.88 in after-hours trading post-announcement. 3. Robinhood and Applovin were surprising omissions from the index addition. 4. S&P Dow Jones Indices uses discretion in index additions with no strict formula.