Engineering firm Amentum (AMTM) is replacing home goods company Bath & Body Works (BBWI) on the S&P 500 index at the end of September.
S&P Dow Jones Indices, which manages the S&P 500 index, announced the change that takes effect on Sept. 30. Bath & Body Works’ stock is being moved to the S&P SmallCap 600 index.
Amentum works with government agencies across a variety of sectors, including defense, space and energy.
In announcing the change, S&P Dow Jones Indices said that Bath & Body Works’ stock “…is no longer representative of the large-cap market space...”
Shares of Bath & Body Works are down 33% this year amid declining sales and financial difficulties at the retailer.
This latest change to the S&P 500 comes after Palantir Technologies (PLTR) and
Dell Technologies (DELL) were each added to the benchmark index on Sept. 23.
