Twilio to Join S&P 500 Replacing Warner Bros. Discovery
Twilio is set to join the S&P 500 stock index. MarketWatch reported the news.
The change takes effect before trading opens on October 6. Twilio will replace Warner Bros.
Discovery in the index. FormFactor will take Twilio's place in the S&P MidCap 400.
Warner Bros. Discovery is due to merge with Paramount.
Paramount Skydance Corp. has a pending acquisition of Warner Bros. Discovery.
Gerry Cardinale is founder of the firm RedBird Capital Partners. He is one of the architects of the deal.
Cardinale said the merger is about growth and not cuts. He also said their combined performance will impress investors.
Klear Note — The S&P 500 tracks 500 large US companies and is widely followed. Funds that copy the index may need to adjust their holdings.
Key Terms 3
- S&P 500 A list of 500 large US companies whose stock prices are tracked.
- S&P MidCap 400 A list of 400 mid-sized US companies whose stock prices are tracked.
- stock index A group of company stocks used to measure how the market is doing.