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Shares of fruit vendor Fresh Del Monte (NYSE: FDP) are on a tear this morning, up 14.6% as of 10:05 a.m. as investors clue in to the news that S&P Dow Jones Indices will be adding Fresh Del Monte stock to its S&P SmallCap 600 Index on Sept. 30.
Fresh Del Monte will replace supercomputer maker Cray(NASDAQ: CRAY) on the index, as the latter agreed to sell itself to Hewlett Packard Enterprise(NYSE: HPE) in May (and therefore disappear from the stock market).