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.

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 02, 2025

2 metrics

Effective date November 28, 2025 Index changes for S&P 500 and S&P SmallCap 600

Effective date December 02, 2025 Additional S&P SmallCap 600 index changes

Market Reality Check

Price: $14.70 Vol: Volume 10,026,618 is 19% ...

normal vol

$14.70 Last Close

Volume Volume 10,026,618 is 19% above 20-day average 8,405,704. normal

Technical Price at 12.79 is trading below 200-day MA of 16.01, indicating a weaker longer-term trend.

Peers on Argus

Key software peers show mixed but generally positive moves, with VRNS +8.28%, PA...

Key software peers show mixed but generally positive moves, with VRNS +8.28%, PATH +8.06%, and others like WEX +4.08%, CFLT +1.01%, INFA +0.08%, suggesting some strength in related names but no flagged sector-wide momentum event.

Historical Context

5 past events · Latest: Apr 01 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Apr 01	Industry award	Positive	+3.3%	Won Best Endpoint Security Solution for Singularity Platform for third year.
Mar 25	Cloud partnership	Positive	+2.5%	Expanded multi-year AI security collaboration with Google Cloud across regions.
Mar 24	Partner expansion	Positive	-9.3%	Expanded LevelBlue partnership for AI-powered MDR, SIEM analytics, and IR services.
Mar 24	Threat report	Neutral	-9.3%	Annual threat report highlighting industrialization of cyber breaches and edge risks.
Mar 24	Leadership change	Neutral	-9.3%	Appointed Barry Padgett as President & COO, formalizing executive leadership changes.

Pattern Detected

Recent news often skews positive (awards, partnerships), but price reactions have been mixed, with some favorable updates coinciding with notable selloffs.

Recent Company History

Over recent months, SentinelOne has reported several positive developments, including an industry award on Apr 1, 2026 and strategic AI-focused partnerships with Google Cloud and LevelBlue in late March 2026. Despite this, multiple announcements on Mar 24, 2026—a threat report and a key leadership appointment—aligned with a -9.32% move, highlighting that strong operational or strategic updates have not always translated into supportive short-term price action.

Market Pulse Summary

This announcement centers on index rebalancing across the S&P 500 and S&P SmallCap 600, detailing ad...

Analysis

This announcement centers on index rebalancing across the S&P 500 and S&P SmallCap 600, detailing additions and deletions tied to corporate transactions. For a company like SentinelOne, recent history has featured awards, AI-driven partnerships, and leadership changes, with mixed share-price responses. The news highlights how benchmark membership can shift as deals close, while separate factors such as execution on partnerships and management transitions remain key elements to monitor.

Key Terms

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

3 terms

s&p 500 financial

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

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

"S&P SmallCap 600 constituent Sandisk Corp. (NASD: SNDK) will replace"

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. 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:

S&P Dow Jones Indices
index_services@spglobal.com

Media Inquiries
spdji.comms@spglobal.com

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.