Unifi, RXO Among Stocks Trading Actively on Planned Index Changes

By Denny Jacob

Unifi Inc. and RXO Inc. are among the stocks actively trading after-hours Thursday following planned changes from the S&P Dow Jones Indices.

Arch Capital Group Ltd. will replace Twitter Inc. in the S&P 500 prior to the opening of trading on Nov. 1. The $44 billion deal between Elon Musk and the social media company is on track to close by the end of the week, The Wall Street Journal reported.

RXO Inc. will join the S&P MidCap 400 prior to trading opening on Nov. 1, replacing Bread Financial Holdings Inc., which will move to the S&P SmallCap 600 effective prior to the opening of trading Nov. 2. Bread Financial will replace Unifi Inc. in the S&P SmallCap 600 on that date.

RXO is XPO Logistics Inc.'s planned spinoff of its freight brokerage business later this year. XPO will remain in the S&P MidCap 400 after the spinoff, S&P Dow Jones Indices said.

Bread Financial is no longer representative of the mid-cap market space and Unifi is no longer representative of the small-cap market space, S&P Dow Jones Indices said.

Unifi shares slipped 8.8% to $8.50. RXO moved up 7% to $22.47 while Arch Capital edged up 6.4% to $54.99. Bread Financial gained 5% to $36.25.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

October 27, 2022 18:09 ET (22:09 GMT)

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