Pull to refresh
Logo
Vylor joins S&P 500 after Corteva spin-off, Twilio set to follow

Vylor joins S&P 500 after Corteva spin-off, Twilio set to follow

Money Moves

Six companies move across the S&P 500, MidCap 400 and SmallCap 600 in an M&A-driven reshuffle

6 days ago: Twilio enters S&P 500, cascade takes effect

Overview

Updated 4 days ago

Corteva spun off its seed and genetics business into Vylor on October 1, and Vylor took Corteva's seat in the S&P 500 that day. Twilio followed on October 6, replacing Warner Bros. Discovery, as scheduled.

Both newcomers closed lower on October 2: Twilio fell 2.22%, Vylor 1.47%, even as the index rose. Corteva dropped to the MidCap 400, and Olin, Formfactor and Workiva shifted tiers. The reshuffle follows two acquisitions: Skyworks Solutions is buying Qorvo, and Paramount Skydance is acquiring Warner Bros. Discovery.

Why it matters

Index funds have absorbed the new members, and closing the two acquisitions would finalize the removal of Warner Bros. Discovery and Qorvo from index membership.

Questions about this story

Free account needed to ask — your question is kept and asked for you right after sign-up. Answers are public.

No questions yet — be the first to ask.

Key Indicators

6
Index position changes announced
Across the S&P 500, MidCap 400 and SmallCap 600 on October 1 and 6.
2
Pending acquisitions driving the reshuffle
Skyworks-Qorvo and Paramount Skydance-Warner Bros. Discovery.
$19B
Vylor technology pipeline
The seed and genetics company cites 12 platform launches over the next decade.
$11.2B-$11.9B
Vylor 2029 net sales target
Vylor says sales should grow 3% to 4% annually through the planning period.
-2.22%
Twilio's Oct 2 close
Twilio fell 2.22% to $294.58; Vylor dropped 1.47% to $67.26 the same day, even as the index rose.

Voices

Curated perspectives — historical figures and your fellow readers.

Ever wondered what historical figures would say about today's headlines?

Sign up to generate historical perspectives on this story.

People Involved

Organizations Involved

Timeline

4 events Latest: 6 days ago
Tap a bar to jump to that date
  1. Twilio enters S&P 500, cascade takes effect

    Latest Index change

    Twilio replaced Warner Bros. Discovery in the S&P 500, and Corteva, Olin, Formfactor and Workiva shifted tiers as announced, before trading opened.

  2. Twilio and Vylor close lower

    Market reaction

    Twilio fell 2.22% to $294.58 and Vylor fell 1.47% to $67.26, even as the S&P 500 rose 0.74%.

  3. Vylor completes spin-off, joins S&P 500

    Corporate action

    Vylor begins trading as VYLR on the NYSE and replaces Corteva in the S&P 500 the same day.

  4. S&P Dow Jones Indices announces October 6 moves

    Announcement

    Twilio to join the S&P 500, with four other changes set across the MidCap 400 and SmallCap 600.

Scenarios

1

Paramount Skydance completes Warner Bros. Discovery purchase

Likely Resolves by End of 2026

Discussed by: S&P Dow Jones Indices

The October 1 announcement says the merger is expected to complete soon, pending closing conditions. A completed deal confirms the October 6 removal of Warner Bros. Discovery from the S&P 500 and Twilio's entry in its place.

2

Skyworks completes Qorvo acquisition

Likely Resolves by End of 2026

Discussed by: S&P Dow Jones Indices

Skyworks Solutions is acquiring Qorvo in a deal expected to close soon. A completed acquisition confirms Qorvo's removal from the S&P SmallCap 600 and Olin Corp's move into the index.

3

A deal collapses and S&P reverses an index change

Unlikely Resolves by End of 2026

Discussed by: S&P Dow Jones Indices

If either acquisition falls apart after the index changes take effect, S&P Dow Jones Indices would need to adjust the affected entries. The October 6 lineup was set on the assumption that both deals close.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

January 2013

Abbott spins off AbbVie (2013)

Abbott Laboratories split its branded pharmaceuticals business into a new company, AbbVie, which began trading January 2, 2013. AbbVie entered the S&P 500 the same day, alongside its former parent.

Then

Abbott stayed in the S&P 500 while AbbVie joined the index at the split.

Now

AbbVie has remained in the benchmark since, and the structure became a template for large pharmaceutical separations.

Why this matters now

The pattern of a large-cap parent spinning off a business that immediately joins the S&P 500 matches the Corteva-Vylor transaction.

November 2015

HP splits into two companies (2015)

Hewlett-Packard split into HP Inc, which kept the PC and printer business, and Hewlett Packard Enterprise, which took the server and services arm. Both began trading November 2, 2015.

Then

Hewlett Packard Enterprise was added to the S&P 500 on its first trading day.

Now

The split showed how index providers admit a newly created public company at the parent's index tier immediately after a corporate separation.

Why this matters now

Another case where a spin-off instantly entered the S&P 500, the same mechanism that put Vylor in the index on October 1, 2026.

Sources

(12)