{"id":13686,"date":"2023-08-22T15:58:29","date_gmt":"2023-08-22T15:58:29","guid":{"rendered":"https:\/\/isafespend.com\/investing\/jj-spinoff-kenvue-to-replace-advance-auto-parts-on-the-sp-500\/"},"modified":"2023-08-22T15:58:30","modified_gmt":"2023-08-22T15:58:30","slug":"jj-spinoff-kenvue-to-replace-advance-auto-parts-on-the-sp-500","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=13686","title":{"rendered":"J&J spinoff Kenvue to replace Advance Auto Parts on the S&P 500"},"content":{"rendered":"
\n

Kenvue Inc.
\n KVUE,
\n +3.45%<\/bg-quote>,<\/span>
\n the maker of Tylenol and Benadryl, will replace auto-parts retailer Advance Auto Parts Inc.
\n AAP,
\n -0.65%<\/bg-quote>
\n on the S&P 500 Index
\n SPX,
\n -0.14%<\/bg-quote>,<\/span>
\n S&P Dow Jones Indices said on Monday. The move takes hold before the opening of trading on Friday. S&P Dow Jones Indices earlier this month said Kenvue, a spinoff of Johnson & Johnson
\n JNJ,
\n -0.24%<\/bg-quote>,<\/span>
\n would join the index, but at that time did not disclose the company Kenvue would be replacing. Advance Auto Parts will replace Emergent BioSolutions Inc.
\n EBS,
\n -10.71%<\/bg-quote>
\n in the S&P SmallCap 600, a change that also becomes effective before trading starts on Friday. \u201cAs previously announced on August 9, the addition of Kenvue is the result of S&P 500 and S&P 100 constituent Johnson & Johnson offering to exchange the shares of Kenvue held for shares of Johnson & Johnson in a split-off exchange offer that expired on Friday, August 18,\u201d S&P Dow Jones Indices said in a statement. \u201cAdvance Auto Parts is more representative of the small-cap market space, and Emergent BioSolutions is no longer representative of the small-cap market space.\u201d Shares of Kenvue were up 1% after hours. Advance Auto Parts fell 0.3%. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Kenvue Inc. KVUE, +3.45%, the maker of Tylenol and Benadryl, will replace auto-parts retailer Advance Auto Parts Inc. AAP, -0.65% on the S&P 500 Index SPX, -0.14%, S&P Dow Jones Indices said on Monday. The move takes hold before the opening of trading on Friday. S&P Dow Jones Indices earlier this month said Kenvue, a<\/p>\n","protected":false},"author":1,"featured_media":9288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-13686","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nJ&J spinoff Kenvue to replace Advance Auto Parts on the S&P 500 | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Kenvue Inc. KVUE, +3.45%, the maker of Tylenol and Benadryl, will replace auto-parts retailer Advance Auto Parts Inc. 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