Amentum Set to Join S&P 500; Bath & Body Works to Join S&P SmallCap 600

Rhea-AI Summary

Amentum (NYSE:AMTM) will join the S&P 500 effective prior to the open on Sept 30, 2024, replacing Bath & Body Works (NYSE:BBWI). Bath & Body Works will move to the S&P SmallCap 600 prior to the open on Oct 1, 2024, replacing Movado (NYSE:MOV).

Jacob's Solutions (NYSE:J) is spinning off its Critical Mission Solutions and Cyber Intelligence business, which will merge with private Amentum to create the newly public Amentum Holdings in a transaction expected to complete on Sept 30, 2024. S&P Dow Jones Indices says Bath & Body Works is no longer representative of the large-cap market space and Movado is no longer representative of the small-cap market space.

Positive

• Amentum to join S&P 500 effective Sept 30, 2024
• New Amentum created via completed spin-off and merger on Sept 30, 2024

Negative

• Bath & Body Works exiting S&P 500 effective Oct 1, 2024
• Bath & Body Works moved to S&P SmallCap 600, lowering large-cap representation

Market Context

This announcement highlights Amentum’s planned addition to the S&P 500 and the reclassification of B...

Analysis

This announcement highlights Amentum’s planned addition to the S&P 500 and the reclassification of Bath & Body Works and Movado across S&P indices, signaling a shift in how these companies represent different market-cap tiers. For Amentum, the change follows a series of sizeable contract awards and expansion initiatives. Investors may watch how index inclusion, existing shelf registration capacity, and future contract flow interact with the company’s historically mixed post-news performance.

Historical Context

5 past events · Latest: Apr 07 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Apr 07	Contract award	Positive	-1.4%	$425M CAL FIRE aerial firefighting contract over initial three-year term.
Apr 01	Partnership deal	Positive	+1.0%	$406M joint venture role for UK’s first small modular reactor program.
Mar 30	Operational expansion	Positive	-2.6%	Hawaii office relocation and launch of Center for Contested Logistics.
Mar 10	Contract award	Positive	-5.0%	$112M JV framework for European nuclear decommissioning and waste work.
Feb 19	Corporate development	Positive	+3.7%	Plan to open larger Reston global HQ with technology showcase in 2027.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Positive contract and expansion news has often seen mixed or negative next-day price reactions, indicating a history of partial sell-the-news behavior.

Recent Company History

Over recent months, Amentum announced several sizeable wins, including a $425 million CAL FIRE contract and a $406 million UK SMR engineering mandate, plus a $112 million European nuclear clean-up framework. Operational expansion in Hawaii and plans for a new Reston headquarters highlighted broader growth ambitions. Market reactions to these positive updates have been inconsistent, with three of five events followed by negative price moves. Today’s S&P 500 inclusion news fits into a pattern of strategic scaling and rising institutional visibility.

Key Terms

s&p 500, s&p smallcap 600, gics sector

3 terms

s&p 500 financial

"Amentum Holdings Inc. (NYSE: AMTM) will be added to the S&P 500 effective prior..."

The S&P 500 is a broad stock market index that tracks the performance of 500 large U.S. companies, weighted so bigger firms have a larger impact. Investors use it like a thermometer or benchmark to judge how the overall U.S. stock market or a portfolio is doing; movements in the index influence investor sentiment, fund performance, and many passive investment products that aim to match its returns.

View in glossary

s&p smallcap 600 financial

"Bath & Body Works, Inc. (NYSE: BBWI), which will be moved to the S&P SmallCap 600..."

A stock market index made up of 600 small-cap U.S. companies chosen to represent the performance of smaller publicly traded firms. It matters to investors because it acts like a temperature gauge for the small-company segment of the market, serving as a benchmark for fund managers, a basis for index funds and ETFs, and a way to compare returns and risk when building a diversified portfolio.

gics sector financial

"Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector"

GICS sector is one of the major industry groupings from the Global Industry Classification Standard, a system that sorts companies into consistent categories (like Technology or Health Care) based on the primary business they do. Investors use these sectors like folders in a filing cabinet to compare companies, build diversified portfolios, and track how whole parts of the market are performing rather than focusing on single stocks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, Sept. 24, 2024 /PRNewswire/ -- Amentum Holdings Inc. (NYSE: AMTM) will be added to the S&P 500 effective prior to the open of trading on Monday, September 30, replacing Bath & Body Works, Inc. (NYSE: BBWI), which will be moved to the S&P SmallCap 600 effective prior to the open of trading on Tuesday, October 1. Bath & Body Works will replace Movado Group, Inc. (NYSE: MOV) in the S&P SmallCap 600 also effective prior to the open of trading on October 1. S&P 500 constituent Jacob's Solutions Inc. (NYSE: J) is spinning off its Critical Mission Solutions and Cyber Intelligence business, which will merge with private Amentum to create newly publicly traded Amentum Holdings in a transaction expected to be completed on September 30. Bath & Body Works is no longer representative of the large-cap market space and Movado is no longer representative of the small-cap market space.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS Sector
Sept 30, 2024	S&P 500	Addition	Amentum	AMTM	Industrials
Oct 1, 2024	S&P 500	Deletion	Bath & Body Works	BBWI	Consumer Discretionary
Oct 1, 2024	S&P SmallCap 600	Addition	Bath & Body Works	BBWI	Consumer Discretionary
Oct 1, 2024	S&P SmallCap 600	Deletion	Movado	MOV	Consumer Discretionary

For more information about S&P Dow Jones Indices, please visit www.spdji.com.

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S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com. 

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View original content:https://www.prnewswire.com/news-releases/amentum-set-to-join-sp-500-bath--body-works-to-join-sp-smallcap-600-302257757.html

SOURCE S&P Dow Jones Indices

FAQ

Why is Amentum (AMTM) being added to the S&P 500 on Sept 30, 2024?

Amentum (AMTM) is being added because the merged public company will meet index criteria. According to S&P Dow Jones Indices, the spin-off and merger creating Amentum are expected to complete on Sept 30, 2024, prompting the S&P 500 addition.

What does Bath & Body Works (BBWI) moving to the S&P SmallCap 600 mean for investors on Oct 1, 2024?

BBWI moving to the SmallCap 600 means it will represent smaller-cap benchmarks instead of large-cap ones. According to S&P Dow Jones Indices, Bath & Body Works is no longer representative of the large-cap market space, effective prior to the open on Oct 1, 2024.

How will the Jacob's Solutions (J) spin-off affect the creation of Amentum on Sept 30, 2024?

The spin-off transfers Jacob's Solutions' Critical Mission Solutions and Cyber Intelligence business into the merged public Amentum. According to S&P Dow Jones Indices, that spin-off and merger are expected to complete on Sept 30, 2024, creating the newly public Amentum Holdings.

Will Movado (MOV) be removed from the S&P SmallCap 600 on Oct 1, 2024?

Yes, Movado (MOV) will be deleted from the S&P SmallCap 600 effective prior to the open on Oct 1, 2024. According to S&P Dow Jones Indices, Bath & Body Works will replace Movado in the SmallCap 600 on that date.

When do these S&P index changes take effect for AMTM, BBWI, and MOV in 2024?

The effective dates are Sept 30, 2024 for Amentum's S&P 500 addition and Oct 1, 2024 for Bath & Body Works' SmallCap 600 addition and Movado's deletion. According to S&P Dow Jones Indices, changes occur prior to the open on those dates.