Advance Auto Parts (NYSE: AAP) is being removed from the S&P 500 index, to be replaced by Kenvue (NYSE: KVUE), as announced by the S&P Dow Jones Indices:

Kenvue Inc. (NYSE: KVUE) will replace Advance Auto Parts Inc. (NYSE: AAP) in the S&P 500, and Advance Auto Parts will replace Emergent BioSolutions Inc. (NYSE: EBS) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, August 25. As previously announced on August 9, the addition of Kenvue is the result of S&P 500 and S&P 100 constituent Johnson & Johnson (NYSE: JNJ) offering to exchange the shares of Kenvue held for shares of Johnson & Johnson in a split-off exchange offer that expired on Friday, August 18. Advance Auto
Parts is more representative of the small-cap market space, and Emergent BioSolutions is no longer representative of the small-cap market space.