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NYSE-listed Red Hat Inc. Becomes Newest Component of S&P 500

[Posted July 28, 2009 by ris]

NYSE Euronext has announced that Red Hat, Inc. has become the newest component of the S&P 500. ""Red Hat's inclusion in the S&P 500 is a significant milestone for the company, and on behalf of NYSE Euronext we want to congratulate Red Hat President and CEO Jim Whitehurst and his team for this accomplishment," said Scott R. Cutler, EVP and Head of Listings, Americas, NYSE Euronext." (Thanks to Scott Bronson)
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NYSE-listed Red Hat Inc. Becomes Newest Component of S&P 500

Posted Jul 28, 2009 17:37 UTC (Tue) by sbergman27 (guest, #10767) [Link]

This is really pretty amazing when you think about Bob Young working out of a bedroom closet office in his home back in the early 90s, pursuing a crazy dream of making it to the big time providing software that people could download for free. He always said he fully expected it to take 20 years. So 16 years brings them in ahead of schedule.

NYSE-listed Red Hat Inc. Becomes Newest Component of S&P 500

Posted Jul 28, 2009 19:06 UTC (Tue) by dmarti (subscriber, #11625) [Link]

This is good news because now any firm that runs an index fund based on the S&P 500 now has to buy RHT automatically. (along with well-known proprietary software companies, including Adobe, Apple, Autodesk, Intuit, Microsoft, and Oracle.)

Should be good for a long-term boost to the stock price without the company having to do anything. (See SUN MICROSYSTEMS STOCK RISES ON ADDITION TO S.& P. 500)

Index funds are gaining popularity, since they seem to outperform actively managed funds, especially when you take the fund manager's fees into account. (Example advice from the Motley Fool site: "Buy an index fund.")


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