San Francisco, CA – Workday (WDAY) and Apollo Global Management (APO) are set to make their debut in the S&P 500 index on Monday, Dec. 23, as part of the quarterly rebalance. Following this announcement, both Workday and Apollo Global experienced significant surges in their stock prices on Friday night. On the other hand, AppLovin (APP), a prominent stock in 2024, saw a notable decline after missing out on inclusion in the index.

The reshuffling of the S&P 500 index will see Apollo and Workday replacing Qorvo (QRVO) and Amentum Holdings (AMTM), who will now move to the S&P SmallCap 600 index. Following the news, Apollo’s stock rose by 6% after hours, and Workday’s stock jumped by 8%, reaching near-all-time highs. AppLovin, on the other hand, witnessed a 4% decline in late trade, despite its impressive performance throughout the year.

Additionally, Comerica (CMA) and Carpenter Technology (CRS) are set to join the S&P MidCap 400 index while Vishay Intertechnology (VSH) and Carters (CRI) will transition to the S&P SmallCap 600. As a result of this reshuffle, Comerica and Carpenter Technology experienced slight declines in their stock prices, while Vishay and Carters saw modest increases.

Furthermore, Terreno Realty (TRNO) and Champion Homes (SKY) will take the place of Hudson Pacific Properties (HPP) and Regenxbio (RGNX) in the S&P SmallCap 600 index. Following this announcement, Terreno Realty and Champion Homes both experienced late surges in their stock prices, while Hudson Pacific and Regenxbio saw slight declines.

Investors and analysts will be closely monitoring these changes in the stock market as these companies transition to new indices, reflecting shifts in market dynamics and investor sentiment. Additionally, the inclusion of Workday and Apollo Global Management in the S&P 500 index further solidifies their positions in the market, potentially attracting more attention from institutional investors and analysts alike.