First Solar Inc. FSLR, -0.45% will join the S&P 500 index SPX, +1.43%, replacing Fortune Brands Home & Security Inc. FBHS, +2.62%, which will move to the S&P MidCap 400, S&P Dow Jones Indices said Monday. The changes are effective next Monday. Fortune Brands is spinning off MasterBrand cabinet business, a deal expected to be completed on Thursday. After the spinoff, Fortune Brands will change its name and ticker to Fortune Brands Innovations Inc. FBIN “and will be more representative of the midcap market space,” the index manager said. Shares of First Solar, a maker of solar panels and other solar-power products, rose 0.4% in the extended session Monday after ending the regular trading day down 0.5%.
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