Palantir Technologies, Dell Technologies, and Erie Indemnity Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600
Rhea-AI Summary
S&P Dow Jones Indices will implement index changes effective prior to trading on September 23, 2024 as part of its quarterly rebalance. Palantir (PLTR), Dell (DELL) and Erie Indemnity (ERIE) join the S&P 500; multiple companies move among the S&P 500, MidCap 400 and SmallCap 600.
The table lists additions and deletions by index and GICS sector, including Fabrinet (FN) moving into the S&P MidCap 400 and being removed from the S&P SmallCap 600.
AI-generated analysis. Not financial advice.
Positive
- Palantir (PLTR) added to S&P 500 effective 23-Sep-2024
- Dell (DELL) added to S&P 500 effective 23-Sep-2024
- Fabrinet (FN) promoted to S&P MidCap 400, effective 23-Sep-2024
Negative
- Fabrinet (FN) removed from S&P SmallCap 600, effective 23-Sep-2024
- American Airlines (AAL) exited S&P 500, moved to S&P MidCap 400
Key Figures
Market Reality Check
Peers on Argus
PI is up 3.12% while key semiconductor peers show mixed but mostly positive moves: SMTC +7.13%, SITM +6.85%, ALGM +3.03%, CRUS +0.83%, SLAB +0.24%. With no peers in the momentum scanner and no same-day peer headlines, today’s move appears more stock-specific than sector-driven.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 02 | Earnings date notice | Neutral | +1.3% | Announced timing of Q1 2026 results and conference call logistics. |
| Mar 16 | Debt repurchase | Positive | +0.8% | Repurchase of $40.2M principal of 1.125% convertible notes due 2027. |
| Feb 12 | Venture arm launch | Neutral | +3.2% | Seligman Ventures $500M VC arm focused on AI and cloud infrastructure. |
| Feb 05 | Q4 and FY25 results | Negative | -24.6% | Reported Q4 and 2025 results and 2026 guidance, prompting a sharp selloff. |
| Jan 13 | Prelim Q4 update | Positive | -9.1% | Preliminary Q4 revenue near high end of guidance and EBITDA above midpoint. |
Recent news often aligned with price direction; notably, positive preliminary results saw a sharp negative reaction, while a later earnings report with weaker implications drew a large selloff in line with sentiment.
Over the past several months, Impinj has cycled through earnings, guidance updates, capital structure actions, and investor communications. Preliminary Q4 2025 results signaled revenue and EBITDA near or above prior guidance, yet the stock fell 9.11%. The full Q4 and 2025 report later coincided with a steeper 24.57% decline, suggesting market concern about the outlook. By contrast, the partial repurchase of $40.2M in 1.125% convertible notes produced a modest gain. Against this backdrop, today’s addition of Impinj to the S&P SmallCap 600 reflects an index reclassification rather than a fundamental shift, but follows a period of volatile reactions to financial disclosures.
Market Pulse Summary
This announcement highlights Impinj’s upcoming inclusion in the S&P SmallCap 600, effective September 23, 2024, as part of a broader S&P index rebalance. For the company, it follows a stretch of mixed market responses to fundamentals, including preliminary Q4 strength, a subsequent -24.57% reaction to full-year results, and a partial repurchase of $40.2M in convertible notes. Investors may watch how future earnings, guidance and capital structure moves interact with index-driven ownership changes.
Key Terms
s&p 500 financial
s&p midcap 400 financial
s&p smallcap 600 financial
gics sector financial
AI-generated analysis. Not financial advice.
NEW YORK, Sept. 6, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, September 23, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S&P SmallCap 600 are no longer representative of the small-cap market space.
- Palantir Technologies Inc. (NYSE: PLTR), Dell Technologies Inc. (NYSE: DELL), and S&P MidCap 400 constituent Erie Indemnity Co. (NASD:ERIE) will replace American Airlines Group Inc. (NASD:AAL), Etsy Inc. (NASD:ETSY) and Bio-Rad Laboratories Inc. (NYSE:BIO) in the S&P 500, respectively. American Airline Group will replace TEGNA Inc. (NYSE: TGNA) in the S&P MidCap 400, and TEGNA will replace Designer Brands Inc. (NYSE: DBI) in the S&P SmallCap 600. Etsy will replace Haverty Furniture Companies Inc. (NYSE: HVT) in the S&P SmallCap 600. Bio-Rad Laboratories will replace Erie Indemnity in the S&P MidCap 400.
- CNH Industrial NV (NYSE: CNH), Western Alliance Bancorp (NYSE: WAL), Parsons Corp. (NYSE: PSN), Hamilton Lane Inc. (NASD: HLNE), Viper Energy Inc. (NASD: VNOM) and S&P SmallCap 600 constituent Fabrinet (NYSE: FN) will replace MP Materials Corp. (NYSE: MP), Progyny Inc. (NASD: PGNY), Adient plc (NYSE: ADNT), Wolfspeed Inc. (NYSE: WOLF), Helen of Troy Ltd (NASD: HELE) and Ziff Davis Inc. (NASD: ZD) in the S&P MidCap 400 respectively. MP Materials, Progyny, Adient, Wolfspeed, Helen of Troy, and Ziff Davis will replace Calavo Growers Inc. (NASD: CVGW), Enhabit Inc. (NYSE: EHAB), Mercer International Inc. (NASD: MERC), Compass Minerals International Inc. (NYSE:CMP), 3D Systems Corp. (NYSE: DDD), and Fabrinet in the S&P SmallCap 600 respectively.
- Zurn Elkay Water Solutions Corp. (NYSE: ZWS), Clear Secure Inc. (NYSE: YOU), TG Therapeutics Inc. (NASD: TGTX), Inspire Medical Systems Inc. (NYSE: INSP), CSW Industrials Inc. (NASD: CSWI), ADMA Biologics Inc. (NASD: ADMA), and Impinj Inc. (NASD:PI) will replace Community Healthcare Trust Inc. (NYSE: CHCT), Varex Imaging Corp. (NASD: VREX), Dine Brands Global Inc. (NYSE: DIN), Nu Skin Enterprises Inc. (NYSE: NUS), AMC Networks Inc. (NASD: AMCX), Olympic Steel Inc.(NASD: ZEUS) and B. Riley Financial Inc. (NASD: RILY) in the S&P SmallCap 600 respectively.
Following is a summary of the changes that will take place prior to the open of trading on the effective date:
Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector |
23-Sep-24 | S&P 500 | Addition | Palantir Technologies | PLTR | Information Technology |
23-Sep-24 | S&P 500 | Addition | Dell Technologies | DELL | Information Technology |
23-Sep-24 | S&P 500 | Addition | Erie Indemnity | ERIE | Financials |
23-Sep-24 | S&P 500 | Deletion | American Airlines Group | AAL | Industrials |
23-Sep-24 | S&P 500 | Deletion | Etsy | ETSY | Consumer Discretionary |
23-Sep-24 | S&P 500 | Deletion | Bio-Rad Laboratories | BIO | Health Care |
23-Sep-24 | S&P MidCap 400 | Addition | Bio-Rad Laboratories | BIO | Health Care |
23-Sep-24 | S&P MidCap 400 | Addition | CNH Industrial | CNH | Industrials |
23-Sep-24 | S&P MidCap 400 | Addition | Western Alliance Bancorp | WAL | Financials |
23-Sep-24 | S&P MidCap 400 | Addition | Parsons | PSN | Industrials |
23-Sep-24 | S&P MidCap 400 | Addition | Hamilton Lane | HLNE | Financials |
23-Sep-24 | S&P MidCap 400 | Addition | Viper Energy | VNOM | Energy |
23-Sep-24 | S&P MidCap 400 | Addition | Fabrinet | FN | Information Technology |
23-Sep-24 | S&P MidCap 400 | Addition | American Airlines Group | AAL | Industrials |
23-Sep-24 | S&P MidCap 400 | Deletion | Erie Indemnity | ERIE | Financials |
23-Sep-24 | S&P MidCap 400 | Deletion | MP Materials | MP | Materials |
23-Sep-24 | S&P MidCap 400 | Deletion | Progyny | PGNY | Health Care |
23-Sep-24 | S&P MidCap 400 | Deletion | Adient | ADNT | Consumer Discretionary |
23-Sep-24 | S&P MidCap 400 | Deletion | Wolfspeed | WOLF | Information Technology |
23-Sep-24 | S&P MidCap 400 | Deletion | Helen of Troy | HELE | Consumer Discretionary |
23-Sep-24 | S&P MidCap 400 | Deletion | Ziff Davis | ZD | Communication Services |
23-Sep-24 | S&P MidCap 400 | Deletion | TEGNA | TGNA | Communication Services |
23-Sep-24 | S&P SmallCap 600 | Addition | TEGNA | TGNA | Communication Services |
23-Sep-24 | S&P SmallCap 600 | Addition | Etsy | ETSY | Consumer Discretionary |
23-Sep-24 | S&P SmallCap 600 | Addition | Ziff Davis | ZD | Communication Services |
23-Sep-24 | S&P SmallCap 600 | Addition | MP Materials | MP | Materials |
23-Sep-24 | S&P SmallCap 600 | Addition | Progyny | PGNY | Health Care |
23-Sep-24 | S&P SmallCap 600 | Addition | Adient | ADNT | Consumer Discretionary |
23-Sep-24 | S&P SmallCap 600 | Addition | Wolfspeed | WOLF | Information Technology |
23-Sep-24 | S&P SmallCap 600 | Addition | Helen of Troy | HELE | Consumer Discretionary |
23-Sep-24 | S&P SmallCap 600 | Addition | Zurn Elkay Water Solutions | ZWS | Industrials |
23-Sep-24 | S&P SmallCap 600 | Addition | Clear Secure | YOU | Information Technology |
23-Sep-24 | S&P SmallCap 600 | Addition | TG Therapeutics | TGTX | Health Care |
23-Sep-24 | S&P SmallCap 600 | Addition | Inspire Medical Systems | INSP | Health Care |
23-Sep-24 | S&P SmallCap 600 | Addition | CSW Industrials | CSWI | Industrials |
23-Sep-24 | S&P SmallCap 600 | Addition | ADMA Biologics | ADMA | Health Care |
23-Sep-24 | S&P SmallCap 600 | Addition | Impinj | PI | Information Technology |
23-Sep-24 | S&P SmallCap 600 | Deletion | Designer Brands | DBI | Consumer Discretionary |
23-Sep-24 | S&P SmallCap 600 | Deletion | Haverty Furniture | HVT | Consumer Discretionary |
23-Sep-24 | S&P SmallCap 600 | Deletion | Fabrinet | FN | Information Technology |
23-Sep-24 | S&P SmallCap 600 | Deletion | Calavo Growers | CVGW | Consumer Staples |
23-Sep-24 | S&P SmallCap 600 | Deletion | Enhabit | EHAB | Health Care |
23-Sep-24 | S&P SmallCap 600 | Deletion | Mercer Intl | MERC | Materials |
23-Sep-24 | S&P SmallCap 600 | Deletion | Compass Minerals Intl | CMP | Materials |
23-Sep-24 | S&P SmallCap 600 | Deletion | 3D Systems | DDD | Industrials |
23-Sep-24 | S&P SmallCap 600 | Deletion | Community Healthcare Trust | CHCT | Real Estate |
23-Sep-24 | S&P SmallCap 600 | Deletion | Varex Imaging | VREX | Health Care |
23-Sep-24 | S&P SmallCap 600 | Deletion | Dine Brands Global | DIN | Consumer Discretionary |
23-Sep-24 | S&P SmallCap 600 | Deletion | NU Skin Enterprises | NUS | Consumer Staples |
23-Sep-24 | S&P SmallCap 600 | Deletion | AMC Networks | AMCX | Communication Services |
23-Sep-24 | S&P SmallCap 600 | Deletion | Olympic Steel | ZEUS | Materials |
23-Sep-24 | S&P SmallCap 600 | Deletion | B. Riley Financial | RILY | Financials |
For more information about S&P Dow Jones Indices, please visit www.spdji.com
ABOUT S&P DOW JONES INDICES
S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.
FOR MORE INFORMATION:
S&P Dow Jones Indices
index_services@spglobal.com
Media Inquiries
spdji.comms@spglobal.com
View original content:https://www.prnewswire.com/news-releases/palantir-technologies-dell-technologies-and-erie-indemnity-set-to-join-sp-500-others-to-join-sp-midcap-400-and-sp-smallcap-600-302241046.html
SOURCE S&P Dow Jones Indices