S&P 500 To Remove TechnipFMC Post Spin-Off, Add Monolithic Power Systems


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  • S&P MidCap 400 component Monolithic Power Systems Inc. (NASD: MPWR) will replace TechnipFMC plc (NYSE: FTI) in the S&P 500.
  • S&P SmallCap 600 constituent Iridium Communications Inc. (NASD: IRDM) will replace Monolithic Power Systems in the S&P MidCap 400, and Collegium Pharmaceutical Inc. (NASD: COLL) will replace Iridium Communications in the S&P SmallCap 600 effective February 12.
  • TechnipFMC was replaced from the S&P 500 index over a potential spin-off of Technip Energies by February 16. Technip Energies is likely to trade in the OTC market.
  • Price action: MPWR shares are up 1.86% at $375.48, while FTI shares are down 3.67% at $10.23 in the pre-market session on the last check Tuesday. IRDM shares are down 4.78% at $51.77.

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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