IBD Leaderboard stock Uber Technologies, Jabil and Builders FirstSource will join the S&P 500 index as part of a quarterly rebalance, S&P Dow Jones Indices announced Friday night. Uber stock jumped Monday morning, but pared gains by the close.
Uber, Jabil and BuildersFirst Source will replace Sealed Air, Alaska Air Group and SolarEdge Technologies in the S&P 500 before the market open on Monday, Dec. 18.
S&P SmallCap 600 members Rambus and Comfort Systems will replace Jabil and Builders FirstSource in the S&P MidCap 400.
Sealed Air, Alaska Air, and SolarEdge will replace Orthofix Medical, Rambus, and Comfort Systems in the S&P SmallCap
600.
Houlihan Lokey and Equitable Holdings will replace Topgolf Callaway Brands and Vestis in the S&P MidCap400. Topgolf Callaway Brands and Vestis will replace Clearfield and OneSpan respectively in the S&P SmallCap 600.
Alkermes, Armstrong World Industries, National HealthCare and PJT Partners will replace Community Health Systems, Invesco Mortgage Capital, Avid Bioservices and James River Group in the S&P SmallCap 600.
S&P 500 Stock Moves
Uber stock rose 2.2% to 58.63 on Monday, well off morning highs. There had been widespread speculation that Uber would be added to the S&P 500. Shares are greatly extended from a 49.19 buy point.
Meanwhile, JBL stock fell 1.3% and BLDR stock slipped 1.7%, despite rising modestly before the open.
SEDG stock rose 1.4% and Sealed Air fell 1.6%. ALK tumbled 14% as Alaska Air said it will buy Hawaiian Airlines for $1.9 billion.
RMBS stock and Comfort Systems fell 5.9% and 3.9%, respectively, despite moving up to the MidCap 400 from the SmallCap 600. More mutual funds and ETFs track the small-cap index than the midcap gauge.
Houlihan Lockey and Equitable Holdings rose 4.7% and 3.2%, respectively. TopGolf Callaway and Vestis edged higher. CLFD stock lost a fraction OneSpan fell modestly.
Among new S&P SmallCap 600 members, ALKS stock, Armstrong World, PJT and NHC jumped.
CYH fell 3.7% while Invesco climbed 1.3%. Avid leapt 8.7% while James River Group rose 1.6%.
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