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 – SPGI

-0.65%

-0.65% Session close to close

In the May 14 session, SPGI declined 0.65%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details upcoming S&P MidCap 400 and S&P SmallCap 600 constituent changes involving...

Analysis

This announcement details upcoming S&P MidCap 400 and S&P SmallCap 600 constituent changes involving SharkNinja, Flowers Foods, F&G Annuities & Life, CSG Systems Intl, and Mister Car Wash, effective May 18–19, 2026. For SPGI, index reshuffles extend the steady flow of S&P Dow Jones Indices updates seen in recent days. Investors may watch how these changes affect index-linked product activity alongside ongoing developments around the Mobility Global spin-out and recent quarterly results.

Key Figures

Effective date: May 18, 2026 Effective date: May 19, 2026

2 metrics

Effective date May 18, 2026 Index changes for SN, FLO, CSGS

Effective date May 19, 2026 Index changes for FG, MCW

Historical Context

5 past events · Latest: May 12 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
May 12	AI product launch	Positive	+0.8%	Launch of HorizonsAgents AI suite for energy and sustainability insights.
May 11	Index change news	Positive	+0.8%	Alignment Healthcare added to S&P SmallCap 600 replacing an acquisition target.
May 11	Safety data release	Neutral	+0.2%	CARFAX report on nearly 7 million vehicles with unfixed camera recalls.
May 08	Spin-off governance	Positive	-2.0%	Announcement of Mobility Global board for planned spin-out from S&P Global.
May 07	Index rebalancing	Neutral	-2.0%	S&P SmallCap 600 changes linked to pending M&A deals for two constituents.

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

Pattern Detected

Recent SPGI news, including product launches and index changes, more often saw modest positive price alignment, with occasional negative divergences around corporate restructuring announcements.

Recent Company History

Over the past week, SPGI has reported several developments, including an AI-powered HorizonsAgents launch on May 12, multiple S&P index constituent changes, and board appointments for the planned Mobility Global spin-out. These items generally produced small positive moves around 0.21–0.75%, while announcements tied to the Mobility separation coincided with -2% reactions, suggesting some investor caution toward the restructuring despite otherwise solid operational updates.

Key Terms

s&p midcap 400, s&p smallcap 600, gics sector

3 terms

s&p midcap 400 financial

"May 18, 2026 | S&P MidCap 400 | Addition | SharkNinja"

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

"May 18, 2026 | S&P SmallCap 600 | Addition | Flowers Foods"

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, 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.