By Stephen Nakrosis
Palo Alto Networks will join the S&P 500 replacing DISH Network effective June 19, S&P Dow Jones Indices said Friday.
As part of the change, DISH will replace Cutera in the S&P SmallCap 600.
In other index changes, the S&P MidCap 400 will add Berry Global Group, BWX Technologies, Crown Holdings, Doximity, Dropbox, Graphic Packaging Holding, Ovintiv, Planet Fitness, Wesco Intl. and ZoomInfo Technologies.
They will replace Dana, John Wiley & Sons, SunPower, Ingevity, Fulton Financial, Douglas Emmett, Victoria’s Secret, Macerich, SiTime and Navient. Those companies will move to the S&P SmallCap 600 from the S&P MidCap 400. They will replace PetMed Express, Comtech Telecommunications, Eagle Pharmaceuticals, Children’s Place, Rayonier Advanced Materials, LivePerson, Gannett, DMC Global, Genesco and Zumiez.
Joining the S&P SmallCap 600 will be Artisan Partners Asset Management, California Resources, CarGurus, Moelis & Co., Phillips Edison, Schrodinger and UFP Technologies. They will be replacing LendingTree, Tredegar, Inogen, Douglas Elliman, FARO Technologies, Cara Therapeutics and Big Lots.
Companies moving to the S&P MidCap 400 are more representative of the mid-cap market space, and companies moving to the S&P SmallCap 600 are more representative of the small-cap market space, according to S&P.
“Companies being removed from the S&P SmallCap 600 are no longer representative of the small-cap market space,” S&P said.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
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