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Stock Alert: Domtar Gains 5%

Shares of Domtar Corp. (UFS) are gaining nearly 5% on Friday morning following the news that the company is set to join the S&P SmallCap 600 index.

UFS is currently trading at $39.46, up $1.76 or 4.67%, on the Nasdaq.

Domtar will replace NIC Inc. (EGOV) in the S&P SmallCap 600, as S&P 500 constituent Tyler Technologies Inc. (TYL) is acquiring NIC in a deal expected to close soon pending final conditions.

Domtar designs, manufactures, markets, and distributes communication papers, specialty and packaging papers, and absorbent hygiene products.

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