Unisys, Bed Bath & Beyond slide amid S&P index reshuffle

Unisys

06/03/2023 17:06

** Unisys Corp's  UIS.N  shares down 15.8% at $4.11, while
Bed Bath & Beyond Inc's  BBBY.O  stock off 3.9% at $1.43 on Mon
after S&P index news
    ** IT services firm UIS and embattled home goods retailer
BBBY to be removed from S&P SmallCap 600 index  .SPCY  effective
Mon, Mar 20, as part of qtrly rebalance, S&P Dow Jones Indices
announced late Fri
    ** About 2.6 mln UIS shares have traded on the session, 4.6x
stock's 25-DMA volume, per Refinitiv
    ** Shares of UIS now down ~19% YTD and have lost ~80% over
the past 12 months
    ** With Mon decline, BBBY's stock down 43% YTD. About a
month ago, co said it raised ~$225 mln of equity and may collect
another $800 mln over the next 10 months in attempt to stave off
bankruptcy
    ** Meanwhile, stocks of pending new additions to the SPCY,
including real estate cos Kennedy-Wilson Holdings Inc  KW.N  and
Radian Group Inc  RDN.N , and Nextier Oilfield Solutions Inc
 NEX.N  are rising Mon
    ** Other notable change is credit scoring services firm Fair
Issac Corp  FICO.N  moving from S&P MidCap 400  .IDX  to S&P 500
 .SPX  to replace telecom co Lumen Technologies  LUMN.N , which
is moving to SPCY
    ** FICO shares on Mon edge up 0.5% to $708.68 and on track
for fresh record high close
    ** LUMN shares on the session bounce off record lows, up
5.2% at $3.34

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