Marvell Technology Group Ltd is trading 9.2% up at $287.66 following the announcement that it will join the S&P 500 later in June.
- The move into the benchmark index is expected to boost institutional visibility and force index-tracking funds to purchase the stock.
- Shares are rebounding from a sharp drop on Friday, supported by a broader rally in U.S. equities as the S&P 500 and Nasdaq trend higher.