GE HealthCare Technologies Inc., which is being spun off from General Electric Co., will join the S&P 500 index prior to the start of trading on Jan. 4, 2023, S&P Dow Jones Indices said.
GE HealthCare will replace Vornado Realty Trust, which is moving to the S&P MidCap 400 on Jan. 5. Vornado is “more representative of the mid-cap market space,” according to S&P Dow Jones Indices.
Vornado will replace RXO Inc., a freight and supply chain company, which will move to the S&P SmallCap 600 and replace Joint Corp., a nationwide network of chiropractors.
“RXO is more representative of the small-cap market space, and The Joint is no longer representative of the small-cap market space,” S&P Dow Jones Indices said.
In November 2021, GE announced plans to split into three companies, including the healthcare unit, an energy business and a unit focused on aviation. GE’s board officially authorized the split in November of this year.