Lululemon's stock to join S&P 500 index

Electrical company Hubbell also joining the S&P

Lululemon Athletica Inc.’s stock rallied more than 5% in the after-hours session Friday after S&P Dow Jones Indices said the stock will join the S&P 500 index next week.

Lululemon’s LULU, +1.00% shares will replace video-game company Activision Blizzard Inc.’s on the S&P 500 SPX, the index provider said. The changes are effective before the stock-market open on Wednesday. Microsoft Corp.’s $69 billion deal for Activision Blizzard closed on Friday after clearing numerous regulatory hurdles.

S&P Dow Jones Indices also said that electrical company Hubbell Inc. HUBB, -4.75% will move to the S&P 500, replacing healthcare company Organon & Co. OGN, +4.09%. Organon is moving to the S&P SmallCap 600 .

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