CNBC5/1/2026Business
Veeva Systems Joins S&P 500, Replacing Coterra Energy in May
Cloud software provider for life sciences sees stock jump 10% after announcement, though shares are down 30% this year
Quick Look
- Veeva Systems, a cloud software provider for life sciences companies, will join the S&P 500 on May 7, replacing Coterra Energy which is being acquired by Devon Energy.
- The stock surged nearly 10% in extended trading after the Thursday announcement from S&P Dow Jones Indices.
- Despite the rally, Veeva shares have declined 30% in 2026 amid investor concerns about AI disruption to cloud software businesses, while the S&P 500 has gained 5%.
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Veeva Systems, a cloud software provider for life sciences companies, will join the S&P 500 on May 7, replacing Coterra Energy which is being acquired by Devon Energy. The stock surged nearly 10% in extended trading after the Thursday announcement from S&P Dow Jones Indices. Despite the rally, Veeva shares have declined 30% in 2026 amid investor concerns about AI disruption to cloud software businesses, while the S&P 500 has gained 5%.
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This article was originally published by CNBC.
