CRH, Carvana And Comfort Systems Jump After-Hours As S&P 500 Changes Shake Up Winners And Losers
- The changes will be implemented December 22 as part of S & P Dow Jones Indices' quarterly rebalance. Multiple companies are being shifted across the S & P 500, MidCap 400 and SmallCap 600 to reflect updated market-cap ranges. The reshuffle follows index-committee criteria that consider market value, profitability and sector representation.
CRH climbed about 7% after hours, Carvana gained roughly 10% and Comfort Systems USA rose around 1% on Friday after S & P Dow Jones Indices unveiled a wide set of changes to the S & P 500, S & P MidCap 400 and S & P SmallCap 600.
All moves will take effect before the market opens on Dec. 22 as part of the index provider's quarterly rebalance.
S & P DJI said the updates are intended to keep each benchmark aligned with its market-capitalization segment. The S & P 500 is assessed quarterly, and constituents are only added if they meet requirements such as market value, profitability and sector classification.
S & P 500 Additions
CRH, a provider of construction aggregates and cement, online used-car retailer Carvana and Comfort Systems USA, a mechanical and electrical contractor that offers HVAC and plumbing services, are joining the S & P 500. They will replace LKQ, Solstice Advanced Materials and Mohawk Industries that are being moved to the SmallCap 600.
MidCap 400 Sees Broad Changes
UL Solutions, Pinterest, Booz Allen Hamilton, SPX Technologies, Dycom Industries, BorgWarner and Hecla Mining will enter the S & P MidCap 400. Comfort Systems USA, Under Armour's A and C shares, Power Integrations, Perrigo, Iridium Communications, Marriott Vacations Worldwide and Insperity will be removed from the index.
Stocktwits Places Bullish Bets On CRH And FIX
On Stocktwits, retail sentiment was 'extremely bullish' for CRH and FIX, while sentiment for Carvana was 'extremely bearish,' with all three tickers witnessing 'extremely high' message volume.
So far this year, CRH is up 31%, Carvana has climbed 97%, and FIX has gained 137%, all outperforming the S & P 500's (SPY) 18% rise.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
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