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CrowdStrike shares jumped as much as 10% on Monday after an announcement that the cybersecurity software vendor was joining the S&P 500, replacing financial firm Comerica . Security ETFs gained on Monday, with the First Trust Nasdaq Cybersecurity ETF climbing 1.3%, and Amplify Cybersecurity ETF — ticker symbol "HACK" — rising 1.2%. CrowdStrike has been profitable in the five most recent quarters, meeting the requirement for inclusion in the S&P 500. With a market cap of over $90 billion, CrowdStrike has more than double the valuation of the median S&P 500 company. WATCH: CrowdStrike CEO George Kurtz goes one-on-one with Jim Cramer
Persons: Dow, CrowdStrike, Robert Half, indexers, George Kurtz, Jim Cramer Organizations: Comerica, Dow Jones Indices, KKR, First Trust Nasdaq Locations: CrowdStrike
The S&P 500 inclusion curse is now taking aim at Uber
  + stars: | 2023-12-05 | by ( Bob Pisani | ) www.cnbc.com   time to read: +4 min
Uber Technologies is finally going into the S & P 500, four years after going public and just shy of an all-time high. And there are a lot of them: Roughly $12 trillion is directly or indirectly indexed to the S & P 500. First is the price: Uber went public in May 2019 at $45 and is now close to $60. Will the 'S & P 500 curse' strike again? S & P announced it would add Tesla to the S & P 500 on Nov. 16, 2020.
Persons: Uber, Tesla Organizations: Technologies, Poor's, American Express, Steel, McKinsey
Two companies are going into the S & P 500 at the close: Blackstone Airbnb What is significant is neither one has ever been in the S & P SmallCap 600 Index or the S & P MidCap 400. They are simply being added to the S & P 500, which means a fairly significant amount of index buying will occur. Companies increasing share count: 228 Companies decreasing share count: 246 The companies that have been buying back their stock most aggressively and reducing their share count are: Companies reducing share count (Change in market capitalization) Apple -0.6% Alphabet -1.2% T-Mobile -10.1% Blackrock -6.3% Exxon Mobil -1.0% Indexers will be selling shares of these companies. Companies increasing share count (Change in market capitalization) Amazon +1.7% Tesla +2.5% Berkshire Hathaway +2.3% Do share buybacks add value to shareholders? At the close, the share count will decrease 0.21% to 334.8 billion.
Persons: Newell Organizations: Lincoln National Newell Brands, Mobile, Blackrock, Exxon Mobil, Chevron, Companies, Berkshire Hathaway
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