Tiger Brokers

BUZZ-Veracyte jumps after diagnostics company to join S&P 600 Small Cap Index

Reuters
Jul 25
BUZZ-Veracyte jumps after diagnostics company to join S&P 600 Small Cap Index 

** Shares of diagnostics co Veracyte VCYT.O climb 6.6% to $25.2 premarket

** VCYT to replace Aero parts maker Triumph Group in S&P 600 Small Cap Index .SPCY, S&P Dow Jones Indices says

** Change will take effect before markets open on July 29

** J.P.Morgan analysts estimate S&P 600 indexer demand for VCYT shares to be 8.5 mln

** Stephens analysts expect passive funds will need to purchase 10.4 mln VCYT shares, which implies ten days of buying demand

** Investment firms Warburg Pincus and Berkshire Partners completed the acquisition of Triumph Group on July 24

** The take-private $3 bln deal was first announced on Feb 3

** As of last close, VCYT shares down more than 40% YTD

(Reporting by Shashwat Chauhan in Bengaluru)

((Shashwat.Chauhan@thomsonreuters.com))

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