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Computer Sciences' shares climb ahead of being added to S&P 500

Lauren Thomas
Updated
Shares of Computer Sciences Corporation climbed Wednesday, reaching a 52-week intraday high, on news that the company will be joining the S&P 500.

Shares of Computer Sciences Corporation climbed more than 5 percent Wednesday afternoon, reaching a 52-week intraday high, on news that the company will be joining the S&P 500.

The stock closed the day around $73 per share after peaking at $74.92. With the day's gains, shares are up more than 22 percent for the year.

Virginia-based Computer Sciences will replace Southwestern Energy in the S&P MidCap 400, and the switch will take place prior to market open on April 4, according to a Tuesday press release.

The information technology company is about to increase its market capitalization, through a deal that's expected to close prior to market open on April 3, the release said.

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Computer Sciences has announced it will acquire enterprise services business Everett, which Hewlett Packard Enterprise is spinning off. Hewlett Packard Enterprise will still remain in the S&P 500, post spin-off.

Shares of Southwestern Energy climbed roughly 3 percent on Wednesday's announcement. The S&P 500 closed the day up less than half a percent.

Computer Sciences year-to-date performance

Source: FactSet