Index Shuffling: Global Payments To Join S&P 500, GameStop To Join S&P MidCap 400, And More

S&P Dow Jones Indices announced after Tuesday's market close several changes to the various equity indices it manages.

Global Payments Inc (NYSE: GPN) will be added to the S&P 500 index as its acquisition of Heartland Payment Systems will imply a market capitalization that is more representative of the S&P 500 index.

Global Payments will replace GameStop Corp. (NYSE: GME) which will be added to the S&P MidCap 400 index as the video game retailer's market cap is ranked near the bottom of the S&P 500.

Krispy Kreme Doughnuts (NYSE: KKD) will replace Pinnacle Entertainment, Inc. (NASDAQ: PNK) in the S&P SmallCap 600 index. Pinnacle is spinning its operations and some of its assets in a deal that is expected to be finalized shortly.

Chuy's Holdings Inc (NASDAQ: CHUY) will also replace Heartland Payment Systems in the S&P SmallCap 600 index as part of the previously mentioned merger with Global Payments.