Barrons.com
Axon Enterprise Will Replace First Republic in S&P 500
Axon Enterprise a manufacturing company with a $14 billion market value, will replace First Republic Bank in the index on May 4, S&P Dow Jones Indices said late Monday. First Republic (ticker: FRC) is leaving the index because of its seizure by federal regulators Monday and the sale of the bulk of its assets to JPMorgan Chase (JPM) made it ineligible for inclusion in the index. Barron’s wrote earlier Monday that Blackstone (BX), the leading manager of alternative assets, might join the S&P 500 and replace First Republic.