Signature Bank, SolarEdge Technologies Inc. and FactSet Research Systems Inc. will be joining the S&P 500 index later this month, S&P Dow Jones Indices said late Friday.
Out are Leggett & Platt Inc.
LEG,
Hanesbrands Inc.
HBI,
and Western Union Co.
WU,
which will move to the S&P MidCap 400
MID,
the index provider said.
SolarEdge
SEDG,
stock rose nearly 3% in the extended session after the S&P 500 index
SPX,
news, while Signature Bank
SBNY,
and FactSet
FDS,
shares gained 0.6% a piece. The stocks to be removed were flat.
That rebalance ensures that each index is “more representative of its market capitalization range,” S&P Dow Jones said in a statement.
The index provider also unveiled changes to its S&P SmallCap 600
SML,
and S&P MidCap 400 indexes.
S&P SmallCap 600 constituents Macy’s Inc.
M,
Vicor Corp.
VICR,
and Power
Integrations Inc.
POWI,
will move to the S&P MidCap 400.
They will replace S&P MidCap 400 constituents Tootsie Roll Industries Inc.
TR,
Telephone &Data Systems Inc.
TDS,
and Nektar Therapeutics
NKTR,
which will move to the S&P SmallCap 600.
This post was originally published on Market Watch
