SharkNinja Set to Join S&P MidCap 400; Flowers Foods and F&G Annuities & Life to Join S&P SmallCap 600

Rhea-AI Summary

F&G Annuities & Life (NYSE: FG) will join the S&P SmallCap 600, replacing Mister Car Wash, effective before trading on May 19, 2026. The same announcement details SharkNinja moving into the S&P MidCap 400 and Flowers Foods shifting from the MidCap 400 to the SmallCap 600 on May 18, 2026, tied to pending acquisitions of CSG Systems Intl and Mister Car Wash.

Positive

• FG added to S&P SmallCap 600 effective May 19, 2026

Negative

• None.

News Market Reaction – FG

+1.78%

16 alerts

+1.78% Session close to close

+2.5% Peak in 16 hr 31 min

$4.01B Market Cap

0.9x Rel. Volume

In the May 14 session, FG gained 1.78%, reflecting a mild positive market reaction. Argus tracked a peak move of +2.5% during that session. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds F&G Annuities & Life to the S&P SmallCap 600 effective May 19, 2026, a change...

Analysis

This announcement adds F&G Annuities & Life to the S&P SmallCap 600 effective May 19, 2026, a change that can alter its shareholder base as index-linked products adjust holdings. Contextually, the stock traded 23.3% below its 52‑week high and below its 200‑day MA before the news, following earlier Q1 2026 earnings and dividend updates. Investors may watch how inclusion-related flows interact with this prior pattern of weaker post‑news price reactions.

Key Figures

Index effective date: May 18, 2026 Price vs 52-week high: -23.3% Price vs 52-week low: 36.85% +2 more

5 metrics

Index effective date May 18, 2026 FG replacement of Mister Car Wash in S&P SmallCap 600 occurs the next day for MCW; FG’s own inclusion is effective May 19, 2026.

Price vs 52-week high -23.3% FG trading below its <b>36.7</b> 52-week high before index addition news.

Price vs 52-week low 36.85% FG trading above its 52-week low of <b>20.57</b> ahead of index change.

Market capitalization $3,714,879,120 Pre‑announcement market cap for F&G Annuities & Life.

20-day average volume 519,606 shares Baseline trading activity prior to index inclusion announcement.

Historical Context

5 past events · Latest: May 07 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 07	Dividend declaration	Positive	-8.1%	Declared quarterly cash dividends on common and preferred shares.
May 06	Earnings release	Positive	-8.1%	Reported Q1 2026 results for Fidelity National Financial and F&G AUM.
May 06	Earnings release	Positive	-8.1%	F&G Q1 2026 results showed profit, record AUM, capital return plans.
Apr 22	Earnings call notice	Neutral	+1.0%	Announced FNF Q1 2026 earnings release date and conference call details.
Apr 22	Earnings call notice	Neutral	+1.0%	Announced F&G Q1 2026 earnings release date and investor webcast.

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

Pattern Detected

Recent fundamentally positive updates (earnings, dividends) were followed by a notable negative move, indicating past divergence between news quality and short‑term price reaction.

Recent Company History

Over the last few weeks, F&G Annuities & Life reported strong Q1 2026 results on May 6, with a swing from prior‑year loss to meaningful net earnings and record AUM, and authorized a new share repurchase program. A day later, the company declared cash dividends on common and preferred stock (May 7). Earlier, it announced its Q1 earnings release and call schedule on April 22, alongside parent Fidelity National Financial. Despite these constructive updates, shares showed a negative reaction around early May news.

Key Terms

S&P MidCap 400, S&P SmallCap 600, GICS Sector

3 terms

S&P MidCap 400 financial

"SharkNinja (NYSE: SN) will replace Flowers Foods Inc. (NYSE: FLO) in the S&P MidCap 400"

The S&P MidCap 400 is a group of 400 companies that are smaller than the big, well-known corporations but larger than tiny startups. It helps investors see how medium-sized companies are performing in the stock market, acting like a barometer for this middle-sized group of businesses.

S&P SmallCap 600 financial

"Flowers Foods will replace CSG Systems Intl Inc. (NASD: CSGS) in 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

"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, May 13, 2026 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, S&P SmallCap 600: 

• SharkNinja (NYSE: SN) will replace Flowers Foods Inc. (NYSE: FLO) in the S&P MidCap 400, and Flowers Foods will replace CSG Systems Intl Inc. (NASD: CSGS) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, May 18. NEC Corporation (TSE: 6701) is acquiring CSG Systems Intl in a deal expected to close soon, pending final closing conditions.
• F&G Annuities & Life Inc. (NYSE: FG) will replace Mister Car Wash Inc. (NASD: MCW) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, May 19. Leonard Green & Partners L.P. is acquiring Mister Car Wash in a deal expected to close soon, pending final closing conditions.

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
May 18, 2026	S&P MidCap 400	Addition	SharkNinja	SN	Consumer Discretionary
May 18, 2026	S&P MidCap 400	Deletion	Flowers Foods	FLO	Consumer Staples
May 18, 2026	S&P SmallCap 600	Addition	Flowers Foods	FLO	Consumer Staples
May 18, 2026	S&P SmallCap 600	Deletion	CSG Systems Intl	CSGS	Industrials
May 19, 2026	S&P SmallCap 600	Addition	F&G Annuities & Life	FG	Financials
May 19, 2026	S&P SmallCap 600	Deletion	Mister Car Wash	MCW	Consumer Discretionary

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

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.spglobal.com/spdji/en/. 

FOR MORE INFORMATION:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

View original content:https://www.prnewswire.com/news-releases/sharkninja-set-to-join-sp-midcap-400-flowers-foods-and-fg-annuities--life-to-join-sp-smallcap-600-302771602.html

SOURCE S&P Dow Jones Indices

FAQ

When will F&G Annuities & Life (NYSE: FG) join the S&P SmallCap 600 index?

F&G Annuities & Life is scheduled to join the S&P SmallCap 600 before trading opens on May 19, 2026. According to S&P Dow Jones Indices, FG will replace Mister Car Wash in the Financials sector slot.

Which company will FG (NYSE: FG) replace in the S&P SmallCap 600 on May 19, 2026?

FG will replace Mister Car Wash (NASD: MCW) in the S&P SmallCap 600 effective before the market opens on May 19, 2026. According to S&P Dow Jones Indices, Mister Car Wash is being acquired by Leonard Green & Partners.

What index changes involve SharkNinja (NYSE: SN) and Flowers Foods (NYSE: FLO) in May 2026?

SharkNinja will be added to the S&P MidCap 400 on May 18, 2026, replacing Flowers Foods. According to S&P Dow Jones Indices, Flowers Foods will simultaneously move into the S&P SmallCap 600, replacing CSG Systems Intl ahead of its planned acquisition.

Which companies are being removed from the S&P SmallCap 600 in May 2026?

CSG Systems Intl and Mister Car Wash are set to be removed from the S&P SmallCap 600 on May 18 and May 19, 2026. According to S&P Dow Jones Indices, each removal is linked to pending acquisition deals expected to close soon.

Why is CSG Systems Intl (NASD: CSGS) leaving the S&P SmallCap 600 in May 2026?

CSG Systems Intl is leaving the S&P SmallCap 600 because NEC Corporation is acquiring the company. According to S&P Dow Jones Indices, its deletion and Flowers Foods’ addition to the index take effect before trading opens on May 18, 2026.

How do the May 2026 S&P index changes affect FG (NYSE: FG) classification?

FG will be classified in the Financials sector within the S&P SmallCap 600 starting May 19, 2026. According to S&P Dow Jones Indices, FG’s addition is part of a broader rebalancing tied to multiple acquisition-driven deletions.