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

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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.

News Market Reaction – TPC

+7.75% 3.0x vol

12 alerts

+7.75% Session close to close

+6.4% Peak in 17 hr 20 min

$4.14B Market Cap

3.0x Rel. Volume

In the Jul 21 session, TPC gained 7.75%, reflecting a notable positive market reaction. Argus tracked a peak move of +6.4% during that session. Our momentum scanner triggered 12 alerts that day, indicating notable trading interest and price volatility. Trading volume was very high at 3.0x the daily average, suggesting strong buying interest.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +7.8% in the session following this news. TPC's July 6 refinancing announcement was ...

Analysis

The stock moved +7.8% in the session following this news. TPC's July 6 refinancing announcement was followed by a 4.12% 24-hour gain. The index change adds a new market-structure event, while recent insider records showed Net Selling of 27,500 shares.

Key Figures

Announcement date: July 20, 2026 TPC effective date: July 24, 2026 V2X effective date: July 27, 2026

3 metrics

Announcement date July 20, 2026 S&P Dow Jones Indices announcement

TPC effective date July 24, 2026 S&P SmallCap 600 addition

V2X effective date July 27, 2026 S&P SmallCap 600 addition

Historical Context

5 past events · Latest: Jul 16 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jul 16	Casino project selection	Positive	-0.5%	Subsidiary selected for $140 million casino renovation and expansion project
Jul 13	Highway project bid	Positive	-1.5%	Subsidiary identified as apparent low bidder on $28.6 million highway project
Jul 13	Highway contract award	Positive	-1.5%	Subsidiary awarded $33.45 million Minnesota highway construction contract
Jul 08	Bridge project award	Positive	+0.8%	Subsidiary awarded Roberts Street Railroad Bridge replacement project
Jul 06	Debt refinancing	Positive	+4.1%	Company redeemed $400 million of senior notes and amended credit agreement

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

Pattern Detected

TPC's recent contract announcements were followed by mostly negative 24-hour reactions, while its refinancing announcement aligned positively.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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07/20/2026 - 05:42 PM

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

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.