Tutor Perini stock surges nearly 8% on S&P SmallCap 600 inclusion

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Summary · why it matters

Tutor Perini shares jumped nearly 8% on Tuesday after S&P Dow Jones Indices announced the construction company will join the S&P SmallCap 600 index. The change, effective before market open on Friday, July 24, is part of a reshuffle triggered by Taylor Morrison Home leaving the S&P MidCap 400 following its acquisition by Berkshire Hathaway. Krystal Biotech will move from the SmallCap 600 to fill Taylor Morrison's spot in the MidCap 400, opening a place for Tutor Perini. The rally reflects the index effect, as index funds will need to add the stock to their portfolios.

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