(Bloomberg) — DoorDash Inc., Williams-Sonoma Inc., TKO Group Holdings Inc. and Expand Energy Corp. will be added to the S&P 500 index in the latest quarterly weighting change.
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The additions tap a broad swath of sectors from food delivery to home accessories, sports entertainment and energy. Shares of DoorDash rose more than 6% in post-market trading, while those of the other three companies all spiked at least 3%.
The companies will replace Borgwarner Inc., Teleflex Inc., Celanese Corp. and FMC Corp. on the index prior to the start of trading on March 24, S&P Dow Jones Indices said in a press release Friday.
DoorDash, the largest food delivery service in the US, in February issued an outlook for orders in the first quarter that surpassed Wall Street’s expectations, serving as yet another sign that consumer demand remains resilient. DoorDash, which controls two-thirds of the US meal delivery market — nearly triple the share of Uber Eats — has also been working to expand its offerings beyond restaurants.
Williams-Sonoma, a home furnishing retailer, reported third-quarter results that topped expectations and management boosted year forecasts. The company’s next earnings date is scheduled for March 13. Bloomberg Intelligence estimates that the company’s revenue might have returned to growth, thanks to broad strength in holiday sales.
“A gain would mark the best showing in nine quarters — an encouraging sign for further expansion — but demand trends and management’s outlook for this year may steal focus,” wrote Lindsay Dutch, BI senior industry analyst.
TKO, which owns the UFC and WWE, announced revenue for 2025 that missed the average estimates. The firm recently announced a team up with a subsidiary of Saudi Arabia’s Public Investment Fund to create a new boxing promoter that will host its first event next year.
Expand Energy, the largest US producer of natural gas, reported adjusted earnings per share that exceeded estimates. It announced plans in February to invest $300 million in bolstering capacity.
Companies must have a market capitalization of at least $20.5 billion and meet profitability, liquidity and share-float standards to qualify for the S&P 500, per February’s methodology.
Inclusion in the US equity benchmark can elevate a company’s profile and is becoming more important as passive investment funds grow. Expulsion from the benchmark can weigh on stock prices, as index funds sell shares to realign with the S&P 500’s new composition.
