Frontdoor rallies on S&P SmallCap 600 addition

Brookfield Business Partners LP

29/06/2022 15:48

** Frontdoor Inc's  FTDR.O  shares up 9.0% at $24.10 on Weds
on S&P index news
    ** FTDR tracking biggest one-day pct rise since Aug 2020
    ** Home services provider to replace Southwestern Energy
 SWN.N  in S&P SmallCap 600 index  .SPCY  before market open on
Jul 6, according to S&P Dow Jones Indices statement  urn:newsml:reuters.com:*:nPn6PK2zPa
    ** SWN moving to S&P MidCap 400 index  .IDX  to take place
of CDK Global Inc  CDK.O , which is being acquired by Brookfield
Business Partners LP  BBU.N 
    ** Frontdoor last month announced its CEO Rexford Tibbens
stepped down and would remain an advisor through Jun 30
 urn:newsml:reuters.com:*:nASA03D5W
    ** FTDR has ~82.3 mln shares outstanding for ~$1.8 bln
market cap based on stock's last close, per Refinitiv
    ** Even with Weds advance, shares down ~34% YTD. That
compares to Nasdaq's  .IXIC  28% decline
    ** Avg rating among 8 analysts is "buy"; median PT $31 -
Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))