:max_bytes(150000):strip_icc()/GettyImages-2203983775-e71bfcdc97cb4c26ac39bbf3e024bdff.jpg "These Two Companies Are Set to Join the S&P 500 Soon")
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Key Takeaways
- Two new companies, both created by spinoffs, are set to join the benchmark S&P 500 in the coming days.
- Those companies are Solstice Advance Materials and Qnity Electronics, which are set to be the first changes since September.
More changes are coming to a big U.S. index.
Two companies are coming to the S&P 500, the benchmark U.S. market measure. Solstice Advance Materials is set to replace CarMax (KMX) before Friday’s open, S&P Dow Jones Indices said late Monday, while Qnity Electronics will replace Eastman Chemical (EMN) before the start of trading next Tuesday.
Solstice, which will use the ticker “SOLS,” is arriving via spinoff from Honeywell International (HON) in a deal expected to close Thursday, with the latter company set to remain in the index. Qnity, which will get the one-letter symbol “Q,” is itself a spinoff from another S&P 500 member, DuPont de Nemours (DD), which will also remain an index member; that deal is expect to be completed Monday.
Why This Matters to Investors
The S&P 500 index is considered the benchmark measure of U.S. markets—and it’s tracked by widely held investment products. The index is periodically updated, with the next round of changes reflecting spinoffs by two big companies that mark the first adjustments to the index since September.
CarMax and Eastman will move to the S&P 600 index of smaller companies.
The changes will mark the first updates to the S&P 500’s membership since September, when Robinhood Markets (HOOD), AppLovin (APP) and Emcor (EME) replaced Caesars Entertainment (CZR), MarketAxess Holdings (MKTX) and Enphase Energy (ENPH).
Honeywell will remain part of the Dow Jones Industrial Average after the Solstice spinoff, S&P Dow Jones Indices said; Solstice will not join that index. That index’s composition hasn’t changed since early November 2024, when Nvidia (NVDA) and Sherwin-Williams (SHW) replaced Intel (INTC) and Dow (DOW).
