The semiconductor company and the electronics manufacturing firm, respectively, will replace Pool Corp. and The Campbell’s Company before the start of trading on June 22, according to the index provider.
Marvell in its latest earnings delivered a quarterly forecast that exceeded estimates and boosted its outlook for the year, citing demand for chips used in AI data centers. The company is benefiting from a surge in demand for computer systems in data centers that create and run artificial intelligence software and services.
Flex, meanwhile, issued profit guidance for 2027 that exceeded consensus estimates. The company announced it will spin off its cloud and power infrastructure segment.
Shares in Marvell rose 6% in after-hours trade and Flex was up 2%.
Companies must have a market capitalization of at least $22.7 billion and meet profitability, liquidity and share-float requirements to qualify for the S&P 500 under April guidelines. Removal from the benchmark can weigh on a stock, as index funds sell shares to realign with the gauge’s new composition.
