First Solar rises on addition to S&P 500; Conn's dips

First Solar (NASDAQ:FSLR) is 1.7% higher postmarket on news that the stock is headed to the S&P 500.
The company is moving up from the S&P MidCap 400 to replace Fortune Brands Home & Security (NYSE:FBHS), which is spinning off MasterBrand (MBC) before changing its name to Fortune Brands Innovations (FBIN).
The Fortune Brands deal is expected to be wrapped before the end of the week. At that time, MasterBrand (MBC) will take a temporary spot in the S&P 500.
Effective before the open of trading on Monday, Dec. 19, First Solar will take the S&P 500 spot, and MasterBrand will move to the S&P SmallCap 600 index, replacing Conn’s (NASDAQ:CONN). Conn’s is down 1.9% after hours.
And while Fortune Brand Home & Security (FBHS) is leaving the S&P 500, the new Fortune Brands Innovations will take a spot in the MidCap 400.

First Solar rises on addition to S&P 500; Conn’s dips