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# Smithfield Foods Witnesses Stock Surge Following Inclusion in Russell 1000 Index
### Main Points
* Smithfield Foods’ stock experienced a surge on Monday subsequent to the declaration of its addition to the Russell 1000 Index by the pork manufacturer.
* The modification, operative post the conclusion of trading on Friday, materializes as Smithfield’s January IPO furnished it with a market capitalization substantial enough for incorporation.
* The meat processing firm is slated to disseminate its inaugural quarterly earnings report post its IPO on Tuesday.
Shares of Smithfield Foods (SFD) ascended on Monday subsequent to the pork producer’s revelation of its integration into the Russell 1000 Index.
Smithfield formally became a component of the index post the cessation of trading on Friday, as an element of a quarterly augmentation of eligible IPOs. Smithfield transitioned to public ownership in January, denoting its resurgence to the market since its privatization by China’s WH Group in 2013. Noteworthy Latin American Fintech Firm Nubank Commences Supplying Cardano and Algorand Functionalities
The Russell 1000 Index constitutes a segment of the broader Russell 3000 Index and monitors the 1,000 foremost entities in the U.S. market contingent on market capitalization.
Smithfield CEO Shane Smith articulated in a declaration that participation in the Russell 1000 Index will bolster the amplification of our visibility amidst institutional investors and fortify our standing as a frontrunner in the consumer staples sector.
The pork manufacturer is slated to unveil its preliminary quarterly earnings report since its return to public trading prior to the commencement of trading on Tuesday. In a regulatory submission preceding the company’s January IPO, it conveyed anticipations of net earnings ranging from $195 million to $223 million on revenues spanning $3.87 billion to $3.95 billion for the trimester concluding on Dec. 29, juxtaposed with a net deficit of $131 million on revenues of $4 billion in the corresponding period of the preceding year.
Smithfield’s stock appreciated by over 3% on Monday, marginally surpassing its closing value on its inaugural trading day.
