BUZZ-Allison Transmission rallies as co to join S&P MidCap index, replacing Goodyear
Prosperity Bancshares, Inc.(R) PB | 0.00 | |
Allison Transmission Holdings, Inc. ALSN | 0.00 | |
Goodyear Tire & Rubber Company GT | 0.00 | |
STELLAR BANCORP INC STEL | 0.00 | |
STKd 100% SMCI & 100% NVDA ETF SPCY | 0.00 |
** Shares of Allison Transmission Holdings ALSN.N up 7.6% to $121.36 and snapping a three-day losing streak on Weds as co poised to join S&P MidCap 400 Index .IDX
** ALSN shares tracking largest daily pct gain since Apr 9, 2025, when broader markets rallied after President Trump paused "Liberation Day" tariffs
** Transmission maker to replace Goodyear Tire & Rubber GT.O in the IDX effective on Mon, Jul 6, S&P Dow Jones said late Tues
** GT migrating to S&P SmallCap 600 .SPCY to replace Stellar Bancorp STEL.N, which was acquired by Prosperity Bancshares PB.N; GT shares down 1% on Weds
** Stephens analyst Melissa Roberts said in a note she expects passive funds demand for 10.4 mln ALSN shares, which implies nearly 12 days of buying demand
** Indianapolis, Indiana-based ALSN has ~82.9 mln shares outstanding for $10 bln current market cap
** With the advance, ALSN shares up about 24% YTD
** Of 11 analysts covering the stock, recommendation breakdown is 4 "strong buy" or "buy", 6 "hold" and 1 "sell"; median PT $135, per LSEG data