May. 1 at 3:45 PM
S&P Global:
$VEEV will enter the S&P 500 index before trading begins on May 7, replacing
$CTRA which is being bought by
$DVN in a deal expected to close soon
Veeva isn't an "entirely" surprising choice for entry as the index recently lost a healthcare constituent, Hologic after a PE buyout deal in early April. At the time, S&P Dow Jones Indices chose to sub in convenience-store retailer
$CASY rather than another healthcare name
Veeva is adjacent within the broader Life Sciences sector, so its inclusion partially restores exposure that was lost when Hologic exited.
Having said that, it is surprising that
$LNG continues to be passed over, especially given the divergence in performance: Veeva is down â33.47% (yesterdayâs close) while Cheniere is up +40.5%.
IMHO Cheniere would have be a be replacement to Coterra on fundamentals, size, liquidity, profitability, & sector balance - always the bridesmaid & never the bride!!!
S&P Global is considering changing inclusion rules to accommodate upcoming massive tech plays - SpaceX, OpenAI, Anthropic
S&P Global has launched a formal review to relax eligibility rules, including:
1) Reducing required public trading history from 12 months to 6 months
2) Waiving profitability requirements for megacap entrants
3) Adjusting freeâfloat rules for companies with unusual structures
The discussion centers on whether the current freeâfloat, profitability, & corporateâstructure rules are too restrictive for modern privateâtoâpublic transitions â especially for firms with dualâclass shares, limited float, or unconventional governance â and whether the index needs a framework to rapidly onboard companies that debut at
$100B+ valuations
