Shares of Lululemon Athletica rose on Friday after the company was added to the S&P 500 index.
The stock was up 4.8% to $396 in post-market trading, following a 1% rise at Friday’s close. The shares are up 18% this year.
The S&P Dow Jones Indices said after the market closed that the excercise apparel company will replace Activision Blizzard, whose acquisition by Microsoft was completed on Friday, in the index effective Oct. 18.
Lululemon has a market capitalization of $49 billion.