Over the past four weeks 2 companies joined the S&P 500 and 0 left. Since 2016, stocks joining the index have averaged -0.3% against the S&P 500 in the month after the change (median -0.6%, 155 changes). 0 sizeable IPOs are on the calendar for the next month. 29 S&P 500 companies reported raising money in the past four weeks (27 new debt, 5 share sales). Historically, S&P 500 stocks moved -0.2% on average against the index around a filing reporting a new debt obligation (median -0.1%, 1,400 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%, 507 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 |
|---|---|---|---|---|
| Vylor (VYLR) | Joined | Oct 1 | Consumer Staples | Too new to measure |
| Twilio (TWLO) | Joined | Oct 6 | Information Technology | -11.1% |
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 |
|---|---|---|---|---|---|
| Apex Treasury Corp II (APTTU) | Oct 13 | Not yet listed | Not yet priced | $288 million | Filed |
| EuroSPAC Acquisition Corp. | Oct 13 | Not yet listed | Not yet priced | $144 million | Filed |
| Creative Future Acquisition Corp | Oct 13 | Not yet listed | Not yet priced | Not available | Withdrawn |
| Frazier Life Sciences Acquisition Corp. II (FLSC) | Oct 14 | NASDAQ Capital | $10.0 | $75 million | Priced |
| BIOVENTRIX, INC. | Oct 14 | Not yet listed | Not yet priced | Not available | Withdrawn |
| Iambic Therapeutics, Inc. (IAM) | Oct 15 | NASDAQ Global Select | $16.0 | $150 million | Priced |
| Amaero Inc. (AMRO) | Oct 15 | NASDAQ Capital | $4.3 | $20 million | Priced |
| CITY THERAPEUTICS, INC. (CTY) | Oct 16 | NASDAQ Global | $18.0 | $200 million | Priced |
| TCGX Acquisition Corp. II (TCXB) | Oct 16 | NASDAQ Capital | $10.0 | $100 million | Priced |
| Klook Technology Ltd | Oct 16 | Not yet listed | Not yet priced | Not available | Withdrawn |
| iStep Learning Ltd (ISTL) | Oct 19 | Not yet listed | Not yet priced | $23 million | Filed |
| Kepuni Holdings Inc. | Oct 19 | Not yet listed | Not yet priced | Not available | Withdrawn |
| NODTHERA INC. (RZRA) | Oct 21 | Not yet listed | Not yet priced | $100 million | Filed |
| Sensing4D AI Ltd | Oct 21 | Not yet listed | Not yet priced | $34 million | Filed |
| DAVION HEALTHCARE PLC (DAVI) | Oct 22 | NASDAQ Global | Not yet priced | Not available | Priced |
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 |
|---|---|---|---|
| CenterPoint (CNP) | Oct 20 | New debt | +1.1% |
| Live Nation (LYV) | Oct 16 | New debt | -0.1% |
| NiSource (NI) | Oct 16 | New debt | +4.6% |
| Norwegian Cruise (NCLH) | Oct 15 | New debt | +2.0% |
| Flex Ltd. (FLEX) | Oct 14 | New debt | -10.4% |
| Flex Ltd. (FLEX) | Oct 13 | Share sale | -13.3% |
| Skydance Corporation (SKYD) | Oct 13 | New debt | -21.8% |
| Illumina, Inc. (ILMN) | Oct 13 | New debt | -0.7% |
| Digital Realty (DLR) | Oct 9 | New debt | +0.9% |
| EQT Corp (EQT) | Oct 7 | New debt | +1.6% |
| Skyworks (SWKS) | Oct 7 | New debt | -1.8% |
| Vylor (VYLR) | Oct 7 | New debt and Share sale | +0.5% |
| Vylor (VYLR) | Oct 7 | New debt | +0.5% |
| Sysco (SYY) | Oct 6 | New debt | +0.2% |
| Cognizant (CTSH) | Oct 6 | New debt | -2.2% |
| Expand Energy (EXE) | Oct 6 | New debt | +1.6% |
| Skydance Corporation (SKYD) | Oct 6 | New debt and Share sale | -9.4% |
| Digital Realty (DLR) | Oct 6 | New debt | +0.0% |
| Vistra (VST) | Oct 5 | New debt | +13.4% |
| Flex Ltd. (FLEX) | Oct 5 | New debt and Share sale | +2.9% |
| Trimble (TRMB) | Oct 2 | New debt | -0.8% |
| Flex Ltd. (FLEX) | Oct 2 | New debt | +2.7% |
| Workday (WDAY) | Oct 1 | New debt | -3.2% |
| Wabtec (WAB) | Oct 1 | New debt | -0.8% |
| Tesla (TSLA) | Sep 29 | New debt | -0.3% |
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, and trade only after the information is published to all subscribers. Past performance does not guarantee future results.
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