PEI - 2 Winners and 2 Losers in Today's S&P Index Changes
Shares of Mr. Cooper Group (NASDAQ: COOP) and R1 RCM (NASDAQ: RCM) surged by double digits on Sept. 8, following the announcement that both stocks were being added to the S&P SmallCap 600 Index effective Sept. 21. On the other side of the coin, Pennsylvania Real Estate (NYSE: PEI) and Express (NYSE: EXPR) shares are falling hard on news they're getting bounced out of the index.
Mr. Cooper and R1 RCM are being added to the SmallCap index on the basis of their respective growth out of the microcap ranks. The addition isn't just due to the increase of their market value, but also by growing sales and earnings. As a result, this move has put both companies on more growth investors' targets.
Image source: Getty Images.