Uber Will Join The S&P 500 Index. The Stock Is Jumping.

Uber Technologies (UBER), Jabil (JBL) and Builders FirstSource (BLDR) will join the S&P 500 index as part of a quarterly rebalance, S&P Dow Jones Indices announced Friday night. Uber stock and the other two entrants rallied in late trade.

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Uber, Jabil and BuildersFirst Source will replace Sealed Air (SEE), Alaska Air Group (ALK) and SolarEdge Technologies (SEDG) in the S&P 500 before the market open on Monday, Dec. 18.

S&P SmallCap 600 members Rambus (RMBS) and Comfort Systems (FIX) will replace Jabil and Builders FirstSource in the S&P MidCap 400.

Sealed Air, Alaska Air, and SolarEdge will replace Orthofix Medical (OFIX), Rambus, and Comfort Systems in the S&P SmallCap
600.

Houlihan Lokey (HLI) and Equitable Holdings (EQH) will replace Topgolf Callaway Brands (MODG) and Vestis (VSTS) in the S&P MidCap400. Topgolf Callaway Brands and Vestis will replace Clearfield (CLFD) and OneSpan (OSPN) respectively in the S&P SmallCap 600.

Alkermes (ALKS), Armstrong World Industries (AWI), National HealthCare (NHC) and PJT Partners (PJT) will replace Community Health Systems (CYH), Invesco Mortgage Capital (IVR), Avid Bioservices (CDMO) and James River Group Holdings (JRVR) in the S&P SmallCap 600.

S&P 500 Stock Moves Late

Uber stock jumped 5% in after-hours trading. There had been widespread speculation that Uber would be added to the S&P 500.

Meanwhile, JBL stock gained 3% Friday night, while BLDR stock climbed 2%.

SEDG stock and Alaska Air slumped about 2%, while Sealed Air retreated 1%.

RMBS stock and Comfort Systems gave up about 2%, despite moving up to the MidCap 400 from the SmallCap 600. More mutual funds and ETFs track the small-cap index than the mid-cap gauge.

Houlihan Lockey and Equitable Holdings were strong gainers late, while TopGolf Callaway and Vestis rose slightly. CLFD stock and OneSpan fell solidly.

Among new S&P SmallCap 600 members, ALKS stock jumped 9%, Armstrong World gained 5% while NHC and PJT added 2.%.

CYH, Invesco and Avid fell slightly, while James River Group fell solidly.

Please follow Ed Carson on X/Twitter at @IBD_ECarson, Threads at @edcarson1971 and Bluesky at @edcarson.bsky.social for stock market updates and more.

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