Sandisk to Join S&P 500 Index

Sandisk is joining the prestigious S&P 500 index next week.

Sandisk, based in Milpitas, is a maker of memory cards and flash drives. The company split from Western Digital in February to trade as an independent company.

S&P Dow Jones Indices said it will make the following changes to the S&P 500, S&P SmallCap 600:

• S&P Small Cap 600 constituent Sandisk Corp. (NASD: SNDK) will replace The Interpublic Group of Companies Inc. (NYSE: IPG) in the S&P 500, and PTC Therapeutics Inc. (NASD: PTCT) will replace Sandisk in the S&P SmallCap 600 effective prior to the opening of trading on Friday, November 28. S&P 500 constituent Omnicom Group Inc. (NYSE: OMC) is acquiring The Interpublic Group of Companies in a deal expected to close soon, pending final conditions.

• Upwork Inc. (NASD: UPWK) will replace Premier Inc. (NASD: PINC) in the S&P SmallCap 600 effective prior to the open of trading on Friday, November 28. Patient Square Capital is acquiring Premier in a deal expected to be completed November 25, pending final closing conditions.

• First Interstate BancSystem Inc. (NASD: FIBK) will replace Hanesbrands Inc. (NYSE: HBI) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, December 2. Gildan Activewear (TMX/NYSE: GIL) is acquiring Hanesbrands in a deal expected to be completed December 1, pending final closing conditions.