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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

Yesterday: Vylor completes spin-off, joins S&P 500

Overview

Updated 1 hour 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 the same day. Twilio moves up from the mid-cap index on October 6, replacing Warner Bros. Discovery.

The changes ripple down the index tiers. Corteva drops to the MidCap 400, Olin moves to the SmallCap 600, and Formfactor and Workiva each rise a level. Two acquisitions drive the traffic: Skyworks Solutions is buying Qorvo, and Paramount Skydance is acquiring Warner Bros. Discovery.

Why it matters

Index funds tracking these benchmarks must rebalance by October 6, and the pending deals will remove two more public companies from index membership.

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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 its sales should grow 3% to 4% annually through the planning period.

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People Involved

Organizations Involved

Timeline

3 events Latest: Yesterday
  1. Twilio enters S&P 500, cascade takes effect

    Upcoming Index change

    Twilio replaces Warner Bros. Discovery in the S&P 500; Corteva, Olin, Formfactor and Workiva shift tiers before trading opens.

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

    Latest Corporate action

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

  3. 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

(10)