Shift4 Payments rises after being added to S&P MidCap 400

Shift4 Payments Inc (NYSE:FOUR ) shares surged 6.7% to $103 before the opening bell on Monday as the payments processor will be added to the S&P MidCap 400. S&P Dow Jones Indices said the inclusion will take effect before the opening bell on November 20, providing Shift4 with a key placement in a benchmark index for mid-sized firms. 

Shift4 Payments boasts a market capitalization of roughly $8.74 billion, and will replace healthcare company  R1 RCM (NASDAQ:RCM ), which was taken private in a $8.9 billion transaction by private equity firms TowerBrook Capital Partners (WA:CPAP ) and Clayton, Dubilier & Rice.

Source: Investing.com