Index Changes - UiPath Inc. (NYSE: PATH) will be added to the S&P MidCap 400, replacing Synovus Financial Corp. (NYSE: SNV), effective January 2, 2026 [1][4] - Versant Media Group Inc. (NASD: VSNT) will be added to the S&P SmallCap 600, replacing Brandywine Realty Trust (NYSE: BDN), effective January 6, 2026 [1][4] Corporate Actions - Pinnacle Financial Partners Inc. (NASD: PNFP) is acquiring Synovus Financial Corp., with the deal expected to be completed soon, pending final closing conditions [4] - Comcast Corp. (NASD: CMCSA) is spinning off Versant Media Group, with the transaction expected to be completed on January 5, 2026 [4]

Group 1 - IBM is in talks to acquire data infrastructure company Confluent for $11 billion, according to a Wall Street Journal report [1] - Carvana and Comfort Systems USA will be added to the S&P 500 index on December 22nd, while LKQ, Solstice, Advanced Materials, and Mohawk Industries will be removed [2] - Carvana is the biggest gainer among the new additions, rising by 9% in pre-market trading [2] Group 2 - The Trump administration will forgive the remaining $11 million civil fine against Southwest Airlines related to its 2022 holiday disruption, which saw nearly 17,000 flight cancellations [3] - An aid package for farmers, including $12 billion in assistance, is expected to be unveiled by the Trump administration [3] - The horror sequel "Five Nights at Freddy's 2" achieved $63 million in ticket sales, marking the biggest opening ever for the weekend after Thanksgiving [4]

Core Insights - Sprott Asset Management USA, Inc. announced a modification to the index tracked by the Sprott Junior Gold Miners ETF (SGDJ), due to the strong performance of gold miners, which have returned over 90% year-to-date as of September 16, 2025 [1] - The market capitalization threshold for eligible securities in the index will be revised from below USD $2 billion to below USD $3 billion, effective at the next scheduled rebalance [2] Company Overview - Sprott Asset Management USA, Inc. is a wholly-owned subsidiary of Sprott Inc., focusing on precious metals and critical materials investments, with a presence in multiple locations including Toronto, New York, Connecticut, and California [3] Industry Context - The adjustment in the index methodology reflects the rising market capitalization of junior gold miners, indicating a robust performance in the gold mining sector [1][2]

Index Changes - United Parks & Resorts Inc. (NYSE: PRKS) will be added to the S&P SmallCap 600, replacing Foot Locker Inc. (NYSE: FL), effective September 8, 2025 [1][4] - TechnipFMC plc (NYSE: FTI) will be added to the S&P MidCap 400, replacing Skechers USA Inc. (NYSE: SKX), effective September 12, 2025 [1][4] Acquisition Details - Dick's Sporting Goods Inc. (NYSE: DKS) is acquiring Foot Locker, with the deal expected to be completed soon, pending final closing conditions [4] - 3G Capital is acquiring Skechers USA, with the deal also expected to be completed soon, pending final conditions [4]