SolarWinds Set to Join S&P SmallCap 600

Rhea-AI Summary

SolarWinds Corp. (NYSE: SWI) is set to replace SunPower Corp. (NASD: SPWR) in the S&P SmallCap 600 index, effective prior to the opening of trading on Friday, August 9, 2024. This change comes as a result of SunPower filing for Chapter 11 bankruptcy, making it ineligible for continued inclusion in the index.

The transition will see SolarWinds, classified under the Information Technology sector, added to the S&P SmallCap 600, while SunPower, previously listed under the Industrials sector, will be removed. This adjustment reflects the dynamic nature of the financial markets and the ongoing evaluation of companies' eligibility for inclusion in major indices.

Positive

• SolarWinds (SWI) will be added to the S&P SmallCap 600 index, potentially increasing its visibility and attractiveness to investors

Negative

• SunPower (SPWR) is being removed from the S&P SmallCap 600 index due to filing for Chapter 11 bankruptcy
• SunPower's removal from the index may negatively impact its stock price and investor sentiment

News Market Reaction

-19.64%

1 alert

-19.64% News Effect

On the day this news was published, SPWR declined 19.64%, reflecting a significant negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Aug. 6, 2024 /PRNewswire/ -- SolarWinds Corp. (NYSE: SWI) will replace SunPower Corp. (NASD: SPWR) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, August 9. SunPower has filed for Chapter 11 bankruptcy and is no longer eligible for continued inclusion in the S&P SmallCap 600.

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
August 9, 2024	S&P SmallCap 600	Addition	SolarWinds	SWI	Information Technology
August 9, 2024	S&P SmallCap 600	Deletion	SunPower	SPWR	Industrials

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

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.spdji.com.

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/solarwinds-set-to-join-sp-smallcap-600-302216021.html

SOURCE S&P Dow Jones Indices

FAQ

Why is SunPower (SPWR) being removed from the S&P SmallCap 600 index?

SunPower (SPWR) is being removed from the S&P SmallCap 600 index because it has filed for Chapter 11 bankruptcy, making it ineligible for continued inclusion in the index.

When will SolarWinds (SWI) replace SunPower (SPWR) in the S&P SmallCap 600?

SolarWinds (SWI) will replace SunPower (SPWR) in the S&P SmallCap 600 index effective prior to the opening of trading on Friday, August 9, 2024.

What sector is SunPower (SPWR) classified under in the S&P SmallCap 600?

SunPower (SPWR) is classified under the Industrials sector in the S&P SmallCap 600 index.

What sector is SolarWinds (SWI) classified under for its addition to the S&P SmallCap 600?

SolarWinds (SWI) is classified under the Information Technology sector for its addition to the S&P SmallCap 600 index.