Super Micro, Deckers to join S&P 500 index

The S&P 500 (^GSPC) will be gaining new membership on March 18. Shares of Super Micro Computer (SMCI) and Deckers Outdoor (DECK) are rallying Monday after announcing the stocks are set to join the index, replacing Whirlpool (WHR) and Zions Bancorporation (ZION).

Yahoo Finance's Josh Schafer joins the Live show to break down all the details.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

Editor's note: This article was written by Angel Smith and updated by Luke Carberry Mogan.

Video transcript

SEANA SMITH: Two other movers that we have our eye on, that's Super Micro and Decker outdoors. We're taking a look at these two names because the fact that they are going to be added to the S&P 500. That is as of the start of trading on March 18. Both shares here rallying in the pre-market. Now Super Micro Decker Outdoors are going to be replacing Whirlpool and Zions Bancorporation. It is important to point out that both of these companies have had an extremely strong start to the year you're looking at Super Micro.

That stock up pretty substantially here more than 200% just this year alone on some of that AI buzz and then also Brad, Decker's Outdoors is also an outperformer up just about 35% since January 1st.

BRAD SMITH: Yeah. Tracking Super Micro here. This morning pre-market you're seeing shares move higher by about 15%. Decker really interesting here. Deckers Outdoor, of course, that parent company of some of our home favorite brands at least for your feets. But at the end of the day, the company, the UGG maker, I should mention. And that is one of the fan favorites for the feets out there. In the most recent quarter that we've been tracking, the company jumped skyrocketed.

Shares jumped about 15% off of some pretty significant record profit and revenue in that third quarter most recently here. And so as you're thinking about what's the sneaker, the footwear landscape is like Deckers Outdoors really continuing to cement itself over decades at this point, that placing them firmly within this rotation that we're seeing within the S&P 500 as well.