S&P 500 Adds Bloom Energy, Illumina, Everpure in Quarterly Rebalance

S&P Dow Jones Indices announced on Friday that Bloom Energy Corp., Illumina Inc., and Everpure Inc. will be added to the benchmark S&P 500 index. The move is part of the index provider's regular quarterly rebalance, with the changes set to take effect prior to the opening of trading on Monday, September 21.

Key Index Changes

The rebalance, designed to ensure the index accurately reflects the largest companies in the U.S. stock market, involves several key adjustments:

• S&P 500 Additions: Bloom Energy, Illumina, and Everpure.
• S&P 500 Deletions: Molson Coors Beverage Co., The Trade Desk Inc., and Builders FirstSource Inc.

As part of the reshuffle, Everpure and Illumina will be moved from the S&P MidCap 400 index. The three outgoing S&P 500 members—Molson Coors, The Trade Desk, and Builders FirstSource—will be added to the S&P SmallCap 600 index, according to the announcement.

Market Reaction and Investor Impact

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News of the inclusion sparked immediate gains for the new constituents in extended trading. Shares of Bloom Energy surged 7.5%, while Illumina gained 2% and Everpure added 2.2%.

Inclusion in a major benchmark like the S&P 500 is significant because it forces purchases by index-tracking funds, which collectively manage trillions of dollars in assets. These funds must adjust their portfolios to mirror the index's new composition, creating buying pressure for incoming stocks. Conversely, shares of Builders FirstSource fell 1.8% in post-market action following news of its deletion.

Broader Index Reshuffle

The changes extend beyond the S&P 500. S&P Dow Jones Indices also announced additions to its mega-cap S&P 100 index, including Dell Technologies, Palo Alto Networks, Arista Networks, and Sandisk.

Enterprise software company HubSpot Inc. will be promoted to the S&P MidCap 400, sending its shares up 4% after hours. It will be joined in the mid-cap index by AGNC Investment Corp., Corcept Therapeutics, and Brinker International.