Sandisk Set to Join S&P 500; Upwork, First Interstate BancSystem, PTC Therapeutics to Join S&P SmallCap 600

Rhea-AI Summary

Gildan (NYSE: GIL) and several companies will move between S&P indices effective late November–early December 2025. Sandisk (SNDK) is being added to the S&P 500 on November 28, 2025, with PTC Therapeutics (PTCT) joining the S&P SmallCap 600 the same day. Upwork (UPWK) and First Interstate BancSystem (FIBK) also join the SmallCap 600 on November 28 and December 2, 2025, respectively; Interpublic, Premier and Hanesbrands will be removed.

AI-generated analysis. Not financial advice.

Positive

• Sandisk added to S&P 500 on November 28, 2025
• PTC Therapeutics added to S&P SmallCap 600 on November 28, 2025
• Upwork added to S&P SmallCap 600 on November 28, 2025
• First Interstate BancSystem added to S&P SmallCap 600 on December 2, 2025

Negative

• Interpublic deleted from S&P 500 on November 28, 2025
• Hanesbrands deleted from S&P SmallCap 600 on December 2, 2025
• Premier deleted from S&P SmallCap 600 on November 28, 2025

Key Figures

Effective date: November 28, 2025 Effective date: December 2, 2025

2 metrics

Effective date November 28, 2025 Index changes effective prior to open on this date

Effective date December 2, 2025 Additional S&P SmallCap 600 changes effective prior to open

Market Reality Check

Price: $59.26 Vol: Volume 1,573,765 vs 20-da...

normal vol

$59.26 Last Close

Volume Volume 1,573,765 vs 20-day average 1,142,545 (relative volume 1.38). normal

Technical Price 59.01 is trading above the 200-day MA at 58.87.

Peers on Argus

Within apparel peers, moves were mixed: VFC up 2.33%, KTB up 1.67%, while LEVI f...

Within apparel peers, moves were mixed: VFC up 2.33%, KTB up 1.67%, while LEVI fell 1.33% and PVH dipped 0.46%, suggesting Gildan’s pre-news action was more stock-specific than sector-driven.

Historical Context

5 past events · Latest: Mar 18 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 18	Conference participation	Neutral	-0.5%	Management presenting and meeting investors at CIBC retail and consumer conference.
Feb 26	Earnings and guidance	Positive	-3.1%	Record Q4 revenue and EPS with 2026 guidance and synergy update post-HanesBrands.
Feb 13	Earnings date set	Neutral	+0.5%	Company scheduled Q4 and full-year 2025 results release and conference call.
Dec 1	Acquisition close	Positive	+3.2%	Completion of HanesBrands acquisition, doubling scale and targeting cost synergies.
Oct 29	Record Q3 results	Positive	-1.7%	Record Q3 revenue and EPS with raised 2025 guidance and free cash flow outlook.

Pattern Detected

Positive fundamental news (record results, guidance, acquisition) has sometimes seen mixed or even negative next-day price reactions, while completion of the HanesBrands deal aligned with a positive move.

Recent Company History

Over the past six months, Gildan has focused on scaling via the HanesBrands acquisition and delivering record financial performance. On Dec 1, 2025 it completed the HanesBrands deal, targeting at least $200 million in cost synergies. Subsequent Q3 and Q4 updates highlighted record revenue and EPS and updated guidance. Despite this, shares sometimes moved lower after strong results, while the acquisition close drew a positive reaction. The current index-related news again ties back to that HanesBrands transaction.

Market Pulse Summary

This announcement highlights index changes where Hanesbrands leaves the S&P SmallCap 600 as Gildan’s...

Analysis

This announcement highlights index changes where Hanesbrands leaves the S&P SmallCap 600 as Gildan’s acquisition advances, underscoring Gildan’s expanding role in the apparel landscape. Recent news flow featured record revenue, higher EPS, and targeted cost synergies from the HanesBrands deal completed on Dec 1, 2025. Investors evaluating this development may focus on integration progress, achievement of synergy targets, and how these structural changes position the company versus apparel peers over time.

Key Terms

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

3 terms

s&p 500 financial

"Sandisk Corp. (NASD: SNDK) will replace The Interpublic Group of Companies Inc. ... in the S&P 500"

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.

s&p smallcap 600 financial

"Upwork Inc. (NASD: UPWK) will replace Premier Inc. (NASD: PINC) 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

"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. Not financial advice.

NEW YORK, Nov. 24, 2025 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P SmallCap 600: 

• S&P SmallCap 600 constituent Sandisk Corp. (NASD: SNDK) will replace The Interpublic Group of Companies Inc. (NYSE: IPG) in the S&P 500, and PTC Therapeutics Inc. (NASD: PTCT) will replace Sandisk in the S&P SmallCap 600 effective prior to the opening of trading on Friday, November 28. S&P 500 constituent Omnicom Group Inc. (NYSE: OMC) is acquiring The Interpublic Group of Companies in a deal expected to close soon, pending final conditions.
  
  
• Upwork Inc. (NASD: UPWK) will replace Premier Inc. (NASD: PINC) in the S&P SmallCap 600 effective prior to the open of trading on Friday, November 28. Patient Square Capital is acquiring Premier in a deal expected to be completed November 25, pending final closing conditions.
  
  
• First Interstate BancSystem Inc. (NASD: FIBK) will replace Hanesbrands Inc. (NYSE: HBI) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, December 2. Gildan Activewear (TMX/NYSE: GIL) is acquiring Hanesbrands in a deal expected to be completed December 1, 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
November 28, 2025	S&P 500	Addition	Sandisk	SNDK	Information Technology
November 28, 2025	S&P 500	Deletion	Interpublic Group	IPG	Communication Services
November 28, 2025	S&P SmallCap 600	Addition	Upwork	UPWK	Industrials
November 28, 2025	S&P SmallCap 600	Addition	PTC Therapeutics	PTCT	Health Care
November 28, 2025	S&P SmallCap 600	Deletion	Sandisk	SNDK	Information Technology
November 28, 2025	S&P SmallCap 600	Deletion	Premier	PINC	Health Care
December 02, 2025	S&P SmallCap 600	Addition	First Interstate BancSystem	FIBK	Financials
December 02, 2025	S&P SmallCap 600	Deletion	Hanesbrands	HBI	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:

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View original content:https://www.prnewswire.com/news-releases/sandisk-set-to-join-sp-500-upwork-first-interstate-bancsystem-ptc-therapeutics-to-join-sp-smallcap-600-302625036.html

SOURCE S&P Dow Jones Indices

FAQ

When will Sandisk (SNDK) join the S&P 500 and what is the effective date?

Sandisk (SNDK) will join the S&P 500 effective prior to the open on November 28, 2025. According to S&P Dow Jones Indices, the change is scheduled to occur before trading begins on that date.

Which companies are being added to the S&P SmallCap 600 on November 28, 2025?

Upwork (UPWK) and PTC Therapeutics (PTCT) will be added to the S&P SmallCap 600 on November 28, 2025. According to S&P Dow Jones Indices, both additions occur effective prior to the open of trading.

Why is Interpublic (IPG) being removed from the S&P 500 on November 28, 2025?

Interpublic (IPG) is being removed because it is being acquired by Omnicom, with the deal expected to close soon. According to S&P Dow Jones Indices, the pending acquisition triggers the index deletion.

When will First Interstate BancSystem (FIBK) join the S&P SmallCap 600 and why?

First Interstate BancSystem (FIBK) will join the S&P SmallCap 600 effective prior to the open on December 2, 2025. According to S&P Dow Jones Indices, the addition follows index rebalancing tied to recent corporate changes.

What happens to Hanesbrands (HBI) in the S&P SmallCap 600 after Gildan's acquisition?

Hanesbrands (HBI) will be deleted from the S&P SmallCap 600 effective December 2, 2025. According to S&P Dow Jones Indices, Gildan's expected acquisition and related corporate changes lead to the removal.