Why Jackson Financial Stock Triumphed on Tuesday
Annuity specialist Jackson Financial (NYSE: JXN) was a double-digit winner of a stock on Tuesday. The company's share price rocketed almost 14% higher, thanks to its inclusion on a high-profile stock index. Speaking of indexes, as Jackson's share price was improving in the teen percentages, the bellwether S 500 index rose a relatively modest 1.5%.
Late on Monday, S Dow Jones Indices announced that Jackson Financial and its fellow finance industry stock Goosehead Insurance are to join the S SmallCap 600 index, effective prior to market open this Friday, Sept. 1.
Jackson Financial is replacing NexTier Oilfield Solutions in the index. NexTier's peer Patterson-UTI Energy is acquiring the company, in a deal expected to close in the near future. Once that occurs, NexTier will cease to be an independently traded company.
Source Fool.com
