Adobe moving to S&P 100, to replace smaller New Fox

|About: Adobe Inc. (ADBE)|By:, SA News Editor

In some shuffling to top indexes, S&P says that Fox Corp (the "New Fox") will be added to the S&P 500 before the open of trading on Wednesday, March 20.

That will follow the spin-off of the Fox Corp. shares to current holders of Twenty-First Century Fox (FOX, FOXA), and Disney's $71B acquisition of Fox's media assets.

Twenty-First Century Fox is currently a member of the S&P 500 and S&P 100. Replacing Fox in the 100 is Adobe (NASDAQ:ADBE), since New Fox will no longer be representative of a mega-cap stock.

ADBE is down 1.7% after hours following today's earnings.

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