Marvell Technology and Flex will replace exiting companies in the S&P 500 index effective June 24, driving premarket gains.
Marvell Technology (MRVL) climbed nearly 8% in premarket trading Monday, while Flex (FLEX) rose 4% following S&P Dow Jones Indices’ announcement that both firms will join the S&P 500 later this month. The inclusion reflects their market capitalization and liquidity thresholds, replacing companies exiting the index.
The additions take effect after the close on June 24, aligning with the index’s quarterly rebalancing. Marvell and Flex currently trade on the S&P MidCap 400, where their market caps and trading volumes met the criteria for promotion. No consensus estimates were provided for the move.
Premarket activity showed strong investor demand, though broader market reactions remained limited ahead of the official rebalancing date.