S&P 500: Apollo Global and Workday Join, Replacing Qorvo and Amentum

In a significant market update, S&P Dow Jones Indices announces that Apollo Global Management and Workday will replace Qorvo and Amentum Holdings in the S&P 500, effective December 23, 2024. These changes indicate a shift that could impact investor sentiment and stock values.

Date: 07-12-2024

AI Rating: 6

The report highlights the upcoming changes in the S&P 500 index, where Apollo Global Management (APO) and Workday (WDAY) will replace Qorvo (QRVO) and Amentum Holdings (AMTM). Such changes are noteworthy as they reflect the ongoing recalibration of the index, which is often a critical factor for investors.

The inclusion in the S&P 500 can lead to increased visibility and demand for the stocks of Apollo Global and Workday, as many index funds and ETFs are required to hold shares of these companies following their entry into the index. This could potentially drive up their stock prices post-inclusion.

On the other hand, Qorvo and Amentum Holdings falling out of the S&P 500 could negatively impact their stock prices due to the reduction of institutional investment flows that usually accompany such changes. Stocks removed from major indices often face selling pressure as fund managers adjust their portfolios.

Overall, investor sentiment might shift positively towards Apollo Global and Workday, leading to a possible increase in their stock prices, while Qorvo and Amentum Holdings might experience downward pressure. It’s important to monitor these movements as the effective date approaches.

Stocks: APO WDAY QRVO AMTM