NEW YORK, June 19, 2026, 07:01 EDT
- U.S. equity markets are closed for Juneteenth. Flex ended its last session at $147.61, gaining 3.13% on June 18. Trading volume for the regular session was 76.5 million shares.
- Flex will join the S&P 500 before the open on June 22, leaving the S&P MidCap 400.
- Flex’s planned spin-off of its AI data-center infrastructure unit will be in focus this week, as the market weighs index demand against a closer look at the deal.
Flex Ltd. will return from the long U.S. weekend in the S&P 500 after trading as a mid-cap name. Nasdaq shuts down Friday for Juneteenth, so Thursday’s close is the last cash-market price before the index update.
The S&P 500 is more than a label for the market. It’s the key U.S. large-cap benchmark and sets the field for funds that track its moves. Those funds have to buy or sell shares if the index changes its lineup. S&P Dow Jones Indices said Flex and Marvell Technology will move into the S&P 500 ahead of the open on Monday, which means Flex exits the MidCap 400.
Flex shares swung around last week, without much excitement. The stock finished Thursday at $147.61, gaining 3.13% that day, but still off about 1.4% from the June 12 close at $149.71. Trading volume spiked to 76.5 million shares, much higher than earlier in the week.
S&P 500 climbed 1.08% and the Nasdaq jumped 1.91% on Thursday, Reuters said. Chip stocks were up, and “triple witching” drove volume higher as stock options, index options, and futures expired together. Tony Welch, chief investment officer at SignatureFD, told Reuters the broader data was “still supportive” with a more hawkish Fed as the backdrop. Reuters
Flex CEO Revathi Advaithi said S&P 500 inclusion is “a landmark milestone” and said it validates how the company has changed. Flex also said the addition shows off its growth plan and market scale; that’s management’s view, but much of that is already in the stock. PR Newswire
AI data centers are the focus here. Flex said in May it will spin off its Cloud and Power Infrastructure segment, known as CPI, aiming to create a standalone public company by early 2027. CPI provides power, cooling and integrated systems to data centers. Reuters reported the spinoff still needs regulatory sign-off and depends on market conditions.
Investors have been watching the numbers. Flex put up fiscal 2026 net sales of $27.9 billion, with adjusted earnings per share at $3.30. These adjusted numbers remove some costs and accounting items. Looking to fiscal 2027, Flex sees net sales between $32.3 billion and $33.8 billion, and adjusted EPS from $4.21 to $4.51, not counting the spin-off. CEO Advaithi said strong year-end results came from “disciplined execution and a clear strategy.” PR Newswire
On the May earnings call, Advaithi linked CPI growth to Google and other hyperscalers, plus co-location and what she called “neocloud” customers. She told investors Flex was “booked out in terms of capacity and backlog” for the next couple of years. That’s a bullish comment, but it ups the pressure on execution.
Rivals aren’t standing still. Jabil and Adani Enterprises rolled out plans this week to join forces on an AI and data-center infrastructure manufacturing platform in India. Schneider Electric and Foxconn also said they have a deal to cooperate on next-gen AI data-center infrastructure. Flex is pitching its own power-and-cooling angle into a space that’s getting more crowded and moving fast. Reuters
The setup isn’t all positive. Index demand is mechanical, and it can fade after the rebalance. That doesn’t answer questions about customer concentration, ramp costs, margins or exactly how the CPI separation will look. Flex hasn’t said what unit-level revenue or profit margins will be, how debt will be split, or what stake it will keep in the spinoff, Reuters reported.
Monday’s open won’t give much away. The key is what happens once the required index trade is out of the way—whether Flex keeps buyers looking at the AI power infrastructure story, or whether the stock, already moving up on the benchmark inclusion, stalls out.
