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Investing.com -- S&P Dow Jones Indices said Monday that Interactive Brokers Group (NASDAQ:IBKR) will be added to the S&P 500 at the start of trading on Thursday, replacing Walgreens Boots Alliance (NASDAQ:WBA).
Walgreens is being taken private in a deal with Sycamore Partners that is expected to close soon.
Shares of Interactive Brokers jumped around 4% in premarket trading Tuesday on the announcement. The stock has doubled over the past 12 months and is up 42% so far this year.
Last month, Interactive Brokers reported adjusted earnings of 51 cents per share for the quarter ended June 30, up from 44 cents a year earlier and above the analyst consensus of 46 cents.
Revenue increased 14.7% year-on-year to $1.48 billion, topping expectations of $1.36 billion.
Talen Energy (NASDAQ:TLN) will move into Interactive Brokers’ place in the S&P MidCap 400, also effective Thursday. The power producer’s shares gained more than 4% after the news.
Talen has benefited from surging electricity demand tied to electrification trends and the rapid growth of AI data centers, lifting its stock 76% year to date.
Robinhood Markets (NASDAQ:HOOD), meanwhile, edged lower in late trading. Some investors had speculated the company might be added to the S&P 500. Its shares have soared nearly 190% in 2025, giving it a market value of about $96 billion.
S&P Dow Jones Indices said Kinetik Holdings (NYSE:KNTK) will join the S&P SmallCap 600 on Sept. 2, replacing Pacific Premier Bancorp (NASDAQ:PPBI), which is being acquired by Columbia Banking System.