Robinhood, AppLovin Surges After S&P 500 Inclusion, CVS Drops

On this edition of Stock Movers:

- Robinhood (HOOD) and AppLovin (APP) shares surged today after S&P Dow Jones Indices said the stocks would be added to the S&P 500 Index. Emcor Group Inc. (EME) will also be added to the index. The three companies will replace MarketAxess Holdings Inc, Caesars Entertainment Inc. and Enphase Energy Inc. prior to the start of trading on Sept. 22. Robinhood’s entry into the S&P 500 marks a milestone not just for the company but for the investing boom it helped define. Once a symbol of pandemic-era excess, the trading app now oversees billions in customer assets, from options to crypto, proving a durable engine of retail market participation. Shares of Robinhood were up more than 7% in after-hours trading.The milestone underscores how fast retail-driven companies can move from the edge of the financial system to its center, as speculation reshapes markets from meme stocks to digital assets. With its slick interface and zero-commission trades, Robinhood captured a growing share of that flow.

- CVS Health (CVS) shares dipped today after executives during a private investor meeting provided no details about its upcoming quality ratings from the US government and offered no financial guidance. Chief Executive Officer David Joyner and Chief Financial Officer Brian Newman made the remarks in a presentation to investors hosted by Morgan Stanley on Monday, according to a person familiar with the event who asked to remain anonymous discussing what was said. Later in the presentation, one of the executives noted the drop in the stock price and said the company doesn’t give guidance between quarterly earnings calls by policy. The executive said CVS continues to feel positively about its outlook, the person said.

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