Bloom Energy, Illumina and Everpure to Join S&P 500 in Quarterly Rebalance

Shares of Bloom Energy Corp., Illumina Inc. and Everpure Inc. moved higher in extended trading Friday after S&P Dow Jones Indices announced that all three companies would be added to the benchmark S&P 500 index. The shuffle is part of the index provider's regular quarterly rebalancing, a process designed to keep the index's constituents representative of their appropriate market-capitalization levels.

Bloom Energy led the after-hours gains, jumping 7.5%, while Illumina advanced 2% and Everpure climbed 2.2%. The index changes, set to take effect before the opening bell on Monday, September 21, will see the trio replace Molson Coors Beverage Co., The Trade Desk Inc. and Builders FirstSource Inc. — with the latter slipping 1.8% in post-market trading.

The benchmark revisions are prompting immediate portfolio realignment, as index-tracking funds position their holdings to mirror the updated lists ahead of the effective trading session. In addition to their new spots in the S&P 500, Everpure and Illumina will be removed from the S&P MidCap 400, while departing S&P 500 members Molson Coors, The Trade Desk and Builders FirstSource are slated to shift down to the S&P SmallCap 600.

Beyond the flagship index, S&P Dow Jones Indices detailed sweeping changes across its market-capitalization tiers, including the addition of Dell Technologies, Palo Alto Networks, Arista Networks and SanDisk to the mega-cap S&P 100. Meanwhile, enterprise software company HubSpot Inc. gained 4% after hours on news of its elevation to the S&P MidCap 400, where it will be joined by AGNC Investment Corp., Corcept Therapeutics and Brinker International.