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ED CARSON

First Solar To Join S&P 500 Index As Fortune Brands Spins Off Unit

First Solar FSLR FBHS

First Solar will join the S&P 500 index before the open on Dec. 19, replacing Fortune Brands Home & Security.

Fortune Brands Home & Security is spinning off MasterBrand by Dec. 15. FBHS will then change its name to Fortune Brands Innovations with a new FBIN stock ticker. Fortune Brands will replace First Solar in the S&P MidCap 400. MasterBrand will replace Conns Inc. in the S&P SmallCap 600.

FSLR stock rose 1% before Tuesday's open. Shares dipped 0.45% to 150.28 on Monday, the eighth straight decline. Intraday, First Solar stock drifted below the 10-week moving average. It's the first test of the 10-week line since FSLR stock blasted out of a short consolidation in late October.

A strong rebound from current levels would offer a buying opportunity for FSLR stock.

FBHS stock fell 2% late Monday.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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