Stellar Bancorp, Inc.Stellar Bancorp will be removed from the S&P SmallCap 600 due to acquisition, leading to forced selling by index funds.
S&P Dow Jones Indices announced that Allison Transmission Holdings will replace Goodyear Tire & Rubber in the S&P MidCap 400, and Goodyear Tire & Rubber will replace Stellar Bancorp in the S&P SmallCap 600, effective before trading opens on Monday, July 6. The changes are driven by S&P MidCap 400 constituent Prosperity Bancshares acquiring Stellar Bancorp in a deal expected to close July 1. Allison Transmission, classified in the Industrials sector, will be added to the MidCap 400, while Goodyear, in Consumer Discretionary, moves to the SmallCap 600. Stellar Bancorp, a Financials sector company, will be removed from the SmallCap 600.
Stellar Bancorp, Inc.Stellar Bancorp will be removed from the S&P SmallCap 600 due to acquisition, leading to forced selling by index funds.
Prosperity Bancshares Inc
Allison Transmission Holdings IncAllison Transmission will join the S&P MidCap 400, which typically triggers index fund buying and positive sentiment.
Goodyear Tire & Rubber CoGoodyear will be moved to the S&P SmallCap 600, which may lead to selling by MidCap-focused funds and lower visibility.
S&P Global Inc