Bloom Energy jumps ahead of S&P 500 addition

Illumina

08/09/2026 13:24

** Fuel-cell maker Bloom Energy's BE.N shares jump 6.3% before the bell on Tues to $268.80, a two-month high, as co poised to join S&P 500 .SPX later this month
** BE shares on track to advance for fifth straight day
** Co to join SPX effective Sept 21 as part of quarterly rebalance, S&P Dow Jones Indices announced late Fri
** Stephens analyst Melissa Roberts said in a note she expects passive funds will need to purchase roughly 56 mln BE shares, implying about 5 trading days of buying demand
** San Jose, California-based BE has ~294.5 mln shares outstanding for about $74 bln market cap as of Fri
** New SPX adds historically outperformed from announcement to add (+7%), with bulk of outperformance occurring on the day post announcement (6%), Roberts points out
** Clear Street, which rates BE 'buy', increases its PT from $290 to $330, citing SPX inclusion and after Hitachi 6501.T last week announced a collaboration with the co to supply onsite fuel cell power systems in Japan for data centers and industrial customers
** Of 31 brokerages covering BE, recommendation breakdown is 17 "strong buy" or "buy", 13 "hold", 1 "sell"; median PT $282, per LSEG
** At Fri close, stock surged 191%
** Meanwhile, data storage platform Everpure P.N, formerly Pure Storage, and DNA sequencing firm Illumina ILMN.O also joining the SPX, as they migrate from S&P MidCap 400 index .IDX coinciding with the rebalance
** This as building materials supplier Builders FirstSource BLDR.N, ad tech platform Trade Desk TTD.O and Molson Coors Beverage Co TAP.N set to move from SPX to S&P SmallCap 600 .SPSY

(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))