TechnipFMC rises ahead of S&P MidCap addition, to replace Skechers

Skechers USA

03/09/2025 13:19

** U.S.-listed shares of TechnipFMC FTI.N up 4.4% premarket to a record high $39.20 as oil and gas equipment and services co poised to join S&P MidCap 400 index .IDX next week

** UK-headquartered FTI to replace Skechers USA SKX.N in IDX effective Fri, Sept 12, S&P Dow Jones said late Tues

** Sneakers maker SKX to be acquired by 3G Capital in $9.4 bln deal expected to close soon, per S&P Dow Jones

** Through Tues close, FTI shares up ~30% YTD for about $15.4 bln market cap, per LSEG data

** 16 of 24 analysts rate FTI "strong buy" or "buy", rest rate "hold" and median PT is $41 - LSEG

 (Lance Tupper is a Reuters market analyst. The views expressed are his own)

 ((lance.tupper@tr.com ; 1-646-279-6380))