Key facts
- Marvell Technology and Flex Ltd. will join the S&P 500 index.
- Pool Corp. and Campbell's will be replaced in the index.
- The changes are effective before trading on June 22.
- Marvell's shares rose 6% in after-hours trade.
- Flex shares rose 2% in after-hours trade.
- S&P Dow Jones Indices will maintain its 12-month seasoning period for new public companies.
Marvell Technology Inc. and Flex Ltd. are set to join the S&P 500 index in the latest quarterly rebalance, with the changes effective before the start of trading on June 22. Marvell will replace Pool Corp., and Flex will replace The Campbell's Company. Marvell's inclusion comes as the company benefits from strong demand for chips used in AI data centers, having recently exceeded earnings estimates and boosted its annual outlook. Flex also issued profit guidance for 2027 that surpassed consensus estimates and announced a spin-off of its cloud and power infrastructure segment. Shares of Marvell rose 6% in after-hours trading, while Flex was up 2%. S&P Dow Jones Indices stated it will maintain its existing eligibility requirements, including a 12-month seasoning period for newly public companies, meaning companies like SpaceX will not gain immediate entry into the index.