Landon Capital

  • 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.