Shares of Calix Inc. are trading higher in Tuesday's after-hours session, while those on Matrix Service Co. are lower, following an announcement of changes to the S&P MidCap 400 and S&P SmallCap 600 from S&P Dow Jones Indices.
The provider of financial market information said Douglas Elliman Inc., which is being spun-off from Vector Group Ltd., will replace Matrix Services on the S&P SmallCap 600 on Dec. 30. Matrix Services, which S&P Dow Jones Indices said is "no longer representative of the small-cap market space," will be removed from the index on Dec. 31.
Shares of Matrix Service were trading 7.22% lower at $6.34 at 5:23 p.m. ET. The company said it provides construction, maintenance and fabrication to the energy and industrial markets across North America.
Also on Tuesday, S&P Dow Jones Indices said Calix Inc. will replace CIT Group Inc. on the S&P MidCap 400 on Jan. 4. CIT Group is being acquired by First Citizens BancShares Inc.
At 5 p.m. ET, shares of Calix Inc., a provides of cloud and software platforms, were trading 9.05% higher at $74.60.