Over the past four weeks 5 companies joined the S&P 500 and 1 left. Since 2016, stocks joining the index have averaged -0.5% against the S&P 500 in the month after the change (median -0.6%, 152 changes). 1 sizeable IPO is on the calendar for the next month, the largest being Iambic Therapeutics, Inc.. 7 S&P 500 companies reported raising money in the past four weeks (6 new debt, 1 share sales). Historically, S&P 500 stocks moved -0.1% on average against the index around a filing reporting a new debt obligation (median -0.1%, 1,452 filings since 2016). Historically, S&P 500 stocks moved +0.6% on average against the index around a filing reporting an unregistered share sale (median +0.1%, 429 filings since 2016). These averages describe the past; any one company's reaction depends on why it is raising money and what it will do with it.
Return against the S&P 500 from the day before the change to the latest close.
| Company | Change | Date | Sector | Since, vs S&P 500 |
|---|---|---|---|---|
| Bloom Energy (BE) | Joined | Sep 21 | Industrials | +3.4% |
| Everpure (P) | Joined | Sep 21 | Information Technology | +46.1% |
| Illumina, Inc. (ILMN) | Joined | Sep 21 | Health Care | +13.9% |
| Vylor (VYLR) | Joined | Oct 1 | – | |
| Twilio (TWLO) | Joined | Oct 6 | -4.3% | |
| Skydance Corporation (SKYD) | Left | Oct 12 | – |
The largest US listings priced in the last two weeks or expected in the next month. Dates and terms often change.
| Company | Date | Exchange | Price | Deal size | Status |
|---|---|---|---|---|---|
| Calm Seas Acquisition Corp. (CSEAU) | Sep 28 | nan | $nan | $230 million | Filed |
| MNBS Acquisition Corp. (MNBSU) | Sep 29 | nan | $nan | $86 million | Filed |
| Accelevation Holdings Corp. (ACCV) | Sep 30 | NASDAQ Global Select | $18.0 | $540 million | Priced |
| BHAV Acquisition Corp II (BHAIU) | Sep 30 | nan | $nan | $172 million | Filed |
| Southport Acquisition Corp. II (PORTU) | Oct 1 | NYSE | $10.0 | $200 million | Priced |
| POP GLOBAL ACQUISITION Ltd (PGA) | Oct 1 | nan | $nan | $115 million | Filed |
| Arca Nova Acquisition Corp (ANACU) | Oct 2 | nan | $nan | $115 million | Filed |
| New Iceland Arctic Acquisition Corp. (NIAAU) | Oct 5 | nan | $nan | $115 million | Filed |
| Lycia Therapeutics, Inc. (LYCA) | Oct 5 | nan | $nan | $100 million | Filed |
| DayOne Data Centers Ltd (DODC) | Oct 5 | nan | $nan | $100 million | Filed |
| Pine Tree Acquisition Corp. (PAXGU) | Oct 6 | NASDAQ Global | $10.0 | $100 million | Priced |
| TANG CAPITAL ACQUISITION CORP. (TCAA) | Oct 6 | nan | $nan | $75 million | Filed |
| AfterNext Acquisition I Corp. (AFNXU) | Oct 7 | NASDAQ Global | $10.0 | $115 million | Expected |
| Centinel Spine Holdco, Inc. (CNTL) | Oct 7 | nan | $nan | $100 million | Filed |
| Iambic Therapeutics, Inc. (IAM) | Oct 15 | NASDAQ Global Select | $15.0-17.0 | $183 million | Expected |
Form 8-K filings reporting a new debt obligation (item 2.0: notes, loans, credit lines) or a sale of shares not registered with the SEC (item 3.0). Reaction: the stock against the S&P 500 from the close before the filing to the close after it.
| Company | Filed | What was filed | Reaction, vs S&P 500 |
|---|---|---|---|
| Constellation Brands (STZ) | Sep 18 | New debt | -3.0% |
| Expand Energy (EXE) | Sep 17 | New debt | -2.7% |
| Generac (GNRC) | Sep 16 | Share sale | +17.7% |
| Public Storage (PSA) | Sep 16 | New debt | +0.7% |
| Dell Technologies (DELL) | Sep 15 | New debt | +6.3% |
| Axon Enterprise (AXON) | Sep 15 | New debt | -3.5% |
| American Tower (AMT) | Sep 14 | New debt | +0.8% |
Subscribers see where the model ranks every S&P 500 company, including the newest members, from their first day in the index.
See plansIndex membership changes as recorded by Torvanta from public sources; IPO calendar from Finnhub; filings from SEC EDGAR; reactions from Torvanta's price data. Past reactions do not predict future ones. Research only, not investment advice or a recommendation to buy or sell any security. Rankings change as data changes and can be wrong. Torvanta and its founder may hold positions in securities discussed. Past performance does not guarantee future results.