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
Market Reality Check
Peers on Argus
ZD gained 1.26% with modest volume while key peers like IAS, STGW, CRTO, QNST, and EEX also showed gains between 0.17% and 4.46%, suggesting a generally constructive group tone even though no sector-wide momentum event was flagged.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 30 | Security product launch | Positive | +0.7% | Launch of Threat Protection Pro expanding digital security capabilities. |
| Mar 05 | Marketing campaign | Positive | +1.6% | RetailMeNot Spring Savecation event with curated travel deals and cash back. |
| Mar 04 | Recognition announcement | Positive | +3.6% | Castle Connolly release of 2026 Top Hospitals rankings and awards. |
| Mar 03 | Asset sale deal | Positive | +48.1% | Definitive agreement to sell Connectivity division for $1.2 billion in cash. |
| Feb 26 | Performance metrics | Positive | -2.1% | Fidium reporting multiple top network performance rankings and fiber expansion. |
Recent ZD news has generally led to positive price reactions, with only one notable divergence where favorable operational metrics coincided with a negative move.
Over the past several months, ZD’s news flow has centered on product expansion, marketing initiatives, operational benchmarks, and portfolio reshaping. The sale of the Connectivity division for $1.2 billion triggered a strong positive reaction of 48.09%. Product and campaign launches such as Threat Protection Pro and Spring Savecation saw smaller but positive moves, while strong Fidium network performance metrics coincided with a -2.06% reaction, showing occasional disconnects between fundamentals and price.
Market Pulse Summary
This announcement details index rebalancing that shifts ZD into the S&P SmallCap 600, changing its position within the index ecosystem without altering underlying operations. Historically, material strategic actions like the $1.2 billion Connectivity sale have driven the largest moves, while product and marketing updates produced modest reactions. Investors may monitor how this new index placement interacts with ZD’s ongoing portfolio strategy and future capital allocation decisions.
Key Terms
s&p 500 financial
s&p midcap 400 financial
s&p smallcap 600 financial
gics 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 |
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