Robinhood, AppLovin and Emcor will join the S&P 500 index, S&P Global announced late Friday as part of its quarterly rebalancing. AppLovin stock and Robinhood jumped. Emcor stock rose solidly.
They will replace Caesars Entertainment, MarketAxess Holdings and Enphase Energy in the S&P 500 before the open on Sept. 22.
AppLovin and Robinhood stock had been snubbed several times. Back in June, S&P Dow Jones Indices made no changes in the quarterly rebalance.
AppLovin stock and Robinhood soared more than 8% in Sunday night trading on Robinhood, with Emcor up 5%. APP stock is signal at least a test of its record high set in February. HOOD stock is set to gap back above the 50-day line, offering an entry. Emcor stock also is indicated above an early entry.
Other S&P Index Changes
Uber Technologies will replace Charter Communications in the S&P 100. Charter will remain in the S&P 500.
S&P SmallCap 600 members MP Materials and Kratos Defense & Security will replace Emcor and Wendy's in the S&P MidCap 400. MarketAxess, Caesars, Enphase and Wendy's will replace ProPetro Holdings, Xerox, MP Materials and Kratos in the S&P SmallCap 600, respectively.
Nutanix and TransUnion will replace Acadia Healthcare and ManpowerGroup in the S&P MidCap 400. Acadia Healthcare and Manpower will replace TechTargetTTGT) and Mesa Laboratoriesin the S&P SmallCap 600.
Noble Corp., Q2 Holdings, Waystar and Hecla Mining will replace Owens & Minor, B&G Food, Jack in the Boxand Simulations Plus in the S&P SmallCap 600.
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