Palo Alto to Replace Dish on S&P 500

Palo Alto Networks (NASDAQ:PANW) shares jumped Monday morning, after S&P Dow Jones Indices announced Friday evening that the cybersecurity company will replace Dish Network in the S&P 500, effective June 20.

The moves were part of S&P Dow Jones Indices’ quarterly rebalance, and are effective prior to the open of trading Tuesday, June 20 (Markets are closed June 19 for the Juneteenth holiday).

Other events on the calendar find Palo Alto presenting Tuesday at the Bank of America 2023 Global Technology Conference

Palo Alto Networks is the world’s cybersecurity leader. We innovate to outpace cyberthreats, so organizations can embrace technology with confidence. We provide next-gen cybersecurity to thousands of customers globally, across all sectors. Our best-in-class cybersecurity platforms and services are backed by industry-leading threat intelligence and strengthened by state-of-the-art automation. Whether deploying our products to enable the Zero Trust Enterprise, responding to a security incident, or partnering to deliver better security outcomes through a world-class partner ecosystem, we’re committed to helping ensure each day is safer than the one before. It’s what makes us the cybersecurity partner of choice.

At Palo Alto Networks, says this morning’s news release, “we’re committed to bringing together the very best people in service of our mission, so we’re also proud to be the cybersecurity workplace of choice, recognized among Newsweek ‘s Most Loved Workplaces (2022, 2021), Comparably Best Companies for Diversity (2021), and HRC Best Places for LGBTQ Equality (2022). ”

PANW shares zoomed $8.84, or 4.1%, to $226.08