Charles Schwab Set to Join S&P 100; BellRing Brands to Join S&P MidCap 400; Cerence to Join S&P SmallCap 600
NEW YORK, March 4, 2022 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 100, S&P MidCap 400 and S&P SmallCap 600:
- S&P 500 constituent The Charles Schwab Corp. (NYSE: SCHW) will replace Biogen Inc. (NASD: BIIB) in the S&P 100 effective prior to the opening of trading on Monday, March 21 to coincide with the quarterly rebalance. Biogen will remain in the S&P 500.
- BellRing Brands Inc. (NYSE: BRBR) will replace Cerence Inc. (NASD: CRNC) in the S&P MidCap 400, and Cerence will replace Cooper-Standard Holdings Inc. (NYSE: CPS) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, March 14. S&P MidCap 400 constituent Post Holdings Inc. (NYSE: POST) is converting its interest in BellRing Brands into new BellRing Brands stock and then distributing 80.1% of that interest to shareholders on March 11. Following the distribution, Post Holdings will remain in the S&P MidCap 400. Immediately prior to the transaction, BellRing Brands will consolidate its multiple share class structure into a new single share class structure. Post transactions, BellRing Brands' market capitalization will be more representative of the mid-cap market space. Cerence's market capitalization is more representative of the small-cap market space. Cooper-Standard is no longer representative of the small-cap market space.
Following is a summary of the changes that will take place prior to the open of trading on the effective date:
Effective Date | Index Name | Action | Company Name | Ticker | GICS Sector |
March 14, 2022 | S&P MidCap 400 | Addition | BellRing Brands | BRBR | Consumer Staples |
March 14, 2022 | S&P MidCap 400 | Deletion | Cerence | CRNC | Information Technology |
March 14, 2022 | S&P SmallCap 600 | Addition | Cerence | CRNC | Information Technology |
March 14, 2022 | S&P SmallCap 600 | Deletion | Cooper-Standard | CPS | Consumer Discretionary |
March 21, 2022 | S&P 100 | Addition | Charles Schwab | SCHW | Financials |
March 21, 2022 | S&P 100 | Deletion | Biogen | BIIB | Healthcare |
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SOURCE Standard & Poor's
