Data-server provider Super Micro Computer Inc. and footwear maker Deckers Outdoor Corp. will join the S&P 500
SPX
stock index later this month, replacing Whirlpool Corp. and Zions Bancorporation, S&P Dow Jones Indices said late Friday.
Shares of Super Micro
SMCI,
shot up 12.6% and of Deckers’
DECK,
stock surged 5.2% in premarket trading Monday, putting both on track to open in record territory.
Super Micro’s stock has rocketed 218.5% year to date through Friday, as it has been caught up in the artificial intelligence-Nvidia Corp.
NVDA,
fervor, after soaring 246.2% in 2023.
Deckers’ stock has gained 35.1% this year after running up 67.5% in 2023.
Whirlpool
WHR,
and Zions
ZION,
will replace those two companies on the S&P MidCap 400
MID.
Whirlpool shares have tumbled 23% over the past 12 months and Zion’s stock has dropped 21.3%.
The changes will take hold before the market’s opening bell on Monday, March 18.
“The changes ensure each index is more representative of its market capitalization range,” S&P Dow Jones Indices said.
“All companies being added to the S&P 500 are more representative of the large-cap market space,” it added, while “all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space.”
Super Micro ended Friday with a market capitalization of $50.65 billion and Deckers’ market cap was $23.19 billion, while Whirlpool’s market cap was $5.84 billion and Zions’ was $5.74 billion.
