Palantir and Dell set to join S&P 500, trading begins from today
Palantir Technologies, Dell Technologies, and Erie Indemnity will begin trading on the S&P 500 today, Monday, September 23.
Palantir Technologies Inc. (NYSE: PLTR), Dell Technologies Inc. (NYSE: DELL), and S&P MidCap 400 constituent Erie Indemnity Co. (NASD:ERIE) will replace American Airlines Group Inc. (NASD:AAL), Etsy Inc. (NASD:ETSY) and Bio-Rad Laboratories Inc. (NYSE:BIO) in the S&P 500, respectively.
Palantir is up 160% and 100% over the last 12-months and YTD, respectively. Dell is up 67% and 50% over the last 12-months and YTD, respectively. Erie Indemnity is up 80% and 55% over the last 12-months and YTD, respectively.
Palantir offers services for real-time data analytics. Its Artificial Intelligence Platform (AIP) is a huge success and has helped numerous businesses.
“Palantir and the US Department of Defense have inked a $480 million deal till 2029 for its data analytics services. The business posted a profitable quarter for the sixth time, with $105 million in net income. The commercial sector comprised 24% of the $634 million overall income,” says Saqib Iqbal, a financial analyst at Trading.biz
“PLTR stock is undervalued at $23, making it one of your top AI choices. The stock has increased by 48% in the past 12 months and 40% this year, providing a perfect balance of growth and innovation,” adds Saqib.
American Airline Group will replace TEGNA Inc. (NYSE: TGNA) in the S&P MidCap 400, and TEGNA will replace Designer Brands Inc. (NYSE: DBI) in the S&P SmallCap 600. Etsy will replace Haverty Furniture Companies Inc. (NYSE: HVT) in the S&P SmallCap 600. Bio-Rad Laboratories will replace Erie Indemnity in the S&P MidCap 400.
American Airline Group has lost money for shareholders with the stock down by 15% and 20% over the last 12 months and YTD, respectively.
S&P Dow Jones indexes will modify the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indexes before the start of trading on Monday, September 23.
CNH Industrial NV (NYSE: CNH), Western Alliance Bancorp (NYSE: WAL), Parsons Corp. (NYSE: PSN), Hamilton Lane Inc. (NASD: HLNE), Viper Energy Inc. (NASD: VNOM) and S&P SmallCap 600 constituent Fabrinet (NYSE: FN) will replace MP Materials Corp. (NYSE: MP), Progyny Inc. (NASD: PGNY), Adient plc (NYSE: ADNT), Wolfspeed Inc. (NYSE: WOLF), Helen of Troy Ltd (NASD: HELE) and Ziff Davis Inc. (NASD: ZD) in the S&P MidCap 400 respectively.
MP Materials, Progyny, Adient, Wolfspeed, Helen of Troy, and Ziff Davis will replace Calavo Growers Inc. (NASD: CVGW), Enhabit Inc. (NYSE: EHAB), Mercer International Inc. (NASD: MERC), Compass Minerals International Inc. (NYSE:CMP), 3D Systems Corp. (NYSE: DDD), and Fabrinet in the S&P SmallCap 600 respectively.
Zurn Elkay Water Solutions Corp. (NYSE: ZWS), Clear Secure Inc. (NYSE: YOU), TG Therapeutics Inc. (NASD: TGTX), Inspire Medical Systems Inc. (NYSE: INSP), CSW Industrials Inc. (NASD: CSWI), ADMA Biologics Inc. (NASD: ADMA), and Impinj Inc. (NASD:PI) will replace Community Healthcare Trust Inc. (NYSE: CHCT), Varex Imaging Corp. (NASD: VREX), Dine Brands Global Inc. (NYSE: DIN), Nu Skin Enterprises Inc. (NYSE: NUS), AMC Networks Inc. (NASD: AMCX), Olympic Steel Inc.(NASD: ZEUS) and B. Riley Financial Inc. (NASD: RILY) in the S&P SmallCap 600 respectively.
S&P Dow Jones Indices rebalances the indices every quarter, removing certain businesses while adding others.
All companies added to the S&P 500 are more representative of the large-cap market space; all companies added to the S&P MidCap 400 are more representative of the mid-cap market space; and all companies added to the S&P SmallCap 600 are more representative of the small-cap market.
The modifications make each index more representative of the market capitalization range. The companies being eliminated from the S&P SmallCap 600 no longer reflect the small-cap market area.