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DoorDash, TKO Group Holdings, Williams-Sonoma, and Expand Energy will be added to the S&P 500 before the opening bell on March 24.
The four will be replacing Borgwarner, Teleflex, Celanese, and FMC.
The decisions were part of S&P Global’s quarterly rebalancing of the index.
Food-delivery giant DoorDash (DASH) and three other firms are being added to the S&P 500 Index in two weeks.
S&P Global, which oversees the index, announced that along with DoorDash, WWE parent TKO Group Holdings (TKO), Williams-Sonoma (WSM), and Expand Energy (EXE) will be joining the prestigious list prior to the start of trading on March 24.
The four companies will be replacing Borgwarner (BWA), Teleflex (TFX), Celanese (CE), and FMC (FMC).
The moves were part of the index’s quarterly rebalancing. S&P Global explained that the new firms coming in «are more representative of the large-cap market space.»
Being part of the S&P 500 can be advantageous to the included stocks, because it exposes them to a wider group of investors who could become aware of a company through an index, plus they can be added to various index funds that track stocks added to the measures.
DoorDash shares edged 0.5% lower soon after markets opened Monday. Shares of TKO Group were down more than 1%, while those of Williams-Sonoma and Expand Energy were up 0.4% and 1%, respectively.
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