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  /  News   /  : SolarEdge, FactSet and Signature Bank to join S&P 500 index

: SolarEdge, FactSet and Signature Bank to join S&P 500 index

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,
-0.57%
,
Hanesbrands Inc.
HBI,
+0.24%
,
and Western Union Co.
WU,
+0.52%
,
which will move to the S&P MidCap 400
MID,
-1.28%
,
the index provider said.

SolarEdge
SEDG,
-3.62%

stock rose nearly 3% in the extended session after the S&P 500 index
SPX,
-0.84%

news, while Signature Bank
SBNY,
-4.34%

and FactSet
FDS,
-0.86%

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,
-1.34%

and S&P MidCap 400 indexes.

S&P SmallCap 600 constituents Macy’s Inc.
M,
-3.25%
,
Vicor Corp.
VICR,
-2.99%
,
and Power
Integrations Inc.
POWI,
-1.45%

will move to the S&P MidCap 400.

They will replace S&P MidCap 400 constituents Tootsie Roll Industries Inc.
TR,
+0.68%
,
Telephone &Data Systems Inc.
TDS,
+1.97%
,
and Nektar Therapeutics
NKTR,
-5.08%
,
which will move to the S&P SmallCap 600.

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