SVC - Lannett down 5.5% SVC gains 5.7% as S&P 500 makes room for Organon

Lannett Company (LCI) is 5.5% lower after hours, part of a ripple effect that has it being removed from the S&P SmallCap 600 index. Organon & Co. (OGN) is being added to the S&P 500 as part of its spin-off from Merck (MRK) - which will remain in the S&P 100 and S&P 500 after the transaction. That means a company needs to make room for Organon, and HollyFrontier (HFC) is moving down the MidCap 400 as its market cap was a better fit as a mid-cap. HFC is 0.6% lower postmarket. Meanwhile, leaving the MidCap 400 to join the SmallCap 600 is Service Properties Trust (SVC), which is up 5.7% after hours. And that last move means a necessary bump from the SmallCap 600, which is Lannett. Organon will join the S&P 500 effective before the open of trading on Thursday, June 3; the rest of the moves will

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Lannett down 5.5%, SVC gains 5.7% as S&P 500 makes room for Organon