Krystal Biotech Set to Join S&P MidCap 400; Tutor Perini and V2X to Join S&P SmallCap 600

S&P Dow Jones Indices announced changes to the S&P MidCap 400 and S&P SmallCap 600 effective before trading on July 24 and July 27, 2026.

Rhea-AI Summary

S&P Dow Jones Indices announced changes to the S&P MidCap 400 and S&P SmallCap 600 effective before trading on July 24 and July 27, 2026. On July 24, Krystal Biotech (KRYS) will move from the S&P SmallCap 600 to join the S&P MidCap 400, replacing Taylor Morrison Home (TMHC). Tutor Perini (TPC) will be added to the S&P SmallCap 600, replacing Krystal Biotech.

According to S&P Dow Jones Indices, Berkshire Hathaway (BRK.A/BRK.B) is acquiring Taylor Morrison Home, with closing expected on or about July 24, pending final conditions. On July 27, V2X (VVX) will join the S&P SmallCap 600, replacing Avanos Medical (AVNS), which is being acquired by American Industrial Partners, also pending final closing conditions.

Argus Jul 21 session

+0.06% close to close Open Argus

Details

News Market Reaction – TMHC

In the Jul 21 session, TMHC gained 0.06%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

22.31% and 6.42% were positive historical reactions to TMHC acquisition and earnings news. The index...

Analysis

22.31% and 6.42% were positive historical reactions to TMHC acquisition and earnings news. The index change adds implementation context, while pending closing conditions remained the principal stated risk.

Key Figures

Mid-cap index: S&P MidCap 400 Small-cap index: S&P SmallCap 600 First effective date: July 24, 2026 +1 more

Mid-cap index

S&P MidCap 400

Krystal Biotech addition effective July 24, 2026

Small-cap index

S&P SmallCap 600

Krystal Biotech deletion and Tutor Perini addition effective July 24, 2026

First effective date

July 24, 2026

Index changes take effect before the market open

Second effective date

July 27, 2026

V2X and Avanos Medical SmallCap 600 changes

Historical Context

5 past events · Latest: May 31

5 events

1. May 31

   Acquisition announcement

   24h Move

   +22.3%

   Berkshire Hathaway agreed to acquire TMHC for $72.50 per share in cash.

2. May 27

   Workplace certification

   24h Move

   +1.2%

   TMHC received its second consecutive Great Place To Work certification.

3. Apr 22

   First-quarter earnings

   24h Move

   +6.4%

   TMHC reported first-quarter results and reaffirmed full-year 2026 guidance.

4. Mar 31

   Promotional partnership

   24h Move

   +1.8%

   TMHC partnered with Liquid Death on a promotional home giveaway.

5. Mar 25

   Earnings date notice

   24h Move

   +1.0%

   TMHC scheduled its first-quarter 2026 results release for April 22.

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

Key Terms

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

4 terms

s&p midcap 400 financial

"Krystal Biotech Inc. will replace Taylor Morrison Home Corp. 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

"Tutor Perini Corp. will replace Krystal Biotech 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.

constituent financial

"S&P SmallCap 600 constituent Krystal Biotech Inc."

A constituent is a single component of a larger financial grouping, such as one company’s stock within a market index or an individual holding inside a fund. Knowing which constituents are included helps investors understand what they own or track, the sources of returns and risks, and how changes to those pieces can alter the overall performance—like checking ingredients to predict a recipe’s flavor and effects.

gics sector financial

"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, July 20, 2026 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400, S&P SmallCap 600: 

• S&P SmallCap 600 constituent Krystal Biotech Inc. (NASD: KRYS) will replace Taylor Morrison Home Corp. (NYSE: TMHC) in the S&P MidCap 400, and Tutor Perini Corp. (NYSE: TPC) will replace Krystal Biotech in the S&P SmallCap 600 effective prior to the opening of trading on Friday, July 24. S&P 500 & 100 constituent Berkshire Hathaway Inc. (NYSE: BRK.A/BRK.B) is acquiring Taylor Morrison Home in a deal expected to close on or about that date, pending final closing conditions.
    
• V2X Inc. (NYSE: VVX) will replace Avanos Medical Inc. (NYSE: AVNS) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, July 27. American Industrial Partners is acquiring Avanos Medical 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
July 24, 2026	S&P MidCap 400	Addition		Krystal Biotech	KRYS	Health Care
July 24, 2026	S&P MidCap 400	Deletion		Taylor Morrison Home	TMHC	Consumer Discretionary
July 24, 2026	S&P SmallCap 600	Addition		Tutor Perini Corp	TPC	Industrials
July 24, 2026	S&P SmallCap 600	Deletion		Krystal Biotech	KRYS	Health Care
July 27, 2026	S&P SmallCap 600	Addition		V2X	VVX	Industrials
July 27, 2026	S&P SmallCap 600	Deletion		Avanos Medical	AVNS	Health Care

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/krystal-biotech-set-to-join-sp-midcap-400-tutor-perini-and-v2x-to-join-sp-smallcap-600-302830022.html

SOURCE S&P Dow Jones Indices

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What index change is planned for Krystal Biotech (KRYS) on July 24, 2026?

Krystal Biotech will move from the S&P SmallCap 600 to the S&P MidCap 400 on July 24, 2026. According to S&P Dow Jones Indices, KRYS will replace Taylor Morrison Home in the MidCap 400 and be deleted from the SmallCap 600 simultaneously.

Why is Taylor Morrison Home (TMHC) being removed from the S&P MidCap 400?

Taylor Morrison Home will be removed from the S&P MidCap 400 because Berkshire Hathaway is acquiring the company. According to S&P Dow Jones Indices, the deal is expected to close on or about July 24, 2026, pending final closing conditions, triggering TMHC’s deletion.

When will Tutor Perini (TPC) and V2X (VVX) join the S&P SmallCap 600?

Tutor Perini will join the S&P SmallCap 600 on July 24, 2026, and V2X will join on July 27, 2026. According to S&P Dow Jones Indices, Tutor Perini replaces Krystal Biotech, while V2X replaces Avanos Medical following its pending acquisition.

What happens to Avanos Medical (AVNS) in the S&P SmallCap 600 after its acquisition?

Avanos Medical will be deleted from the S&P SmallCap 600 on July 27, 2026. According to S&P Dow Jones Indices, American Industrial Partners is acquiring Avanos Medical, and V2X will be added to the index as its replacement, pending final closing conditions.

How are Berkshire Hathaway (BRK) and American Industrial Partners involved in these S&P index changes?

Berkshire Hathaway is acquiring Taylor Morrison Home, and American Industrial Partners is acquiring Avanos Medical. According to S&P Dow Jones Indices, these pending acquisitions prompt TMHC’s removal from the S&P MidCap 400 and AVNS’s removal from the S&P SmallCap 600, with new companies added.

Which GICS sectors are affected by the July 2026 S&P MidCap 400 and SmallCap 600 changes?

The changes affect Health Care, Consumer Discretionary, and Industrials sectors. According to S&P Dow Jones Indices, Krystal Biotech and Avanos Medical are Health Care, Taylor Morrison Home is Consumer Discretionary, and Tutor Perini and V2X are Industrials within their respective S&P indices.