GE Vernova, Solventum to join S&P 500 index next week
By Claudia Assis
The GE and 3M spinoffs will join the index in the coming days
Newly minted GE Vernova and Solventum Corp., both soon to be officially spun off from two industrial giants, are hitting it big early: They are joining the S&P 500 index next week.
GE Vernova is the renewable-power-generation company that will stand alone after next week's split of General Electric Co. (GE) into GE Aerospace and GE Vernova. Solventum is the spinoff of 3M's healthcare business, to be completed next week as well.
Solventum will be added to the S&P 500 SPX before the open on Monday, replacing apparel and sportswear maker V.F. Corp. (VFC), S&P Dow Jones Indices said late Wednesday. 3M (MMM) will remain in the S&P 500 and the S&P 100.
V.F. Corp., whose brands include JanSport, The North Face and Timberland, will move to the S&P SmallCap 600 at the open on Wednesday, April 3. It is "no longer representative of the large-cap market space," S&P Dow Jones said.
GE Vernova will be added to the S&P 500 before the open on Tuesday, replacing Dentsply Sirona Inc. (XRAY), which will move to the S&P MidCap 400 at the open on April 3. Dentsply Sirona is a dental products maker and also got the "not representative" ding.
GE, which will become GE Aerospace, also will remain in the S&P 500 and the S&P 100.
Recent headline-grabbing moves in and out of the S&P 500 and the Dow Jones Industrial Average, the premier U.S. stock market indexes, include last month's DJIA addition of Amazon.com Inc. (AMZN) and the S&P 500's addition of Kenvue (KVUE), a spinoff of Johnson & Johnson (JNJ), in August.
-Claudia Assis
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
03-27-24 1812ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
How Anti-Obesity Drugs Are Innovating the Healthcare Market
-
What’s Happening In the Markets This Week
-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
After Earnings, Is Lyft Stock a Buy, a Sell, or Fairly Valued?
-
8 Stock Picks in the Apparel Industry
-
Baidu Earnings: Advertising Weakness Offset by Continued Growth In Cloud Business
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing