Pull to refresh
Logo
What Changed
Following Why Sign Up
Vylor joins S&P 500 after Corteva spin-off, Twilio set to follow

Vylor joins S&P 500 after Corteva spin-off, Twilio set to follow

Money Moves

Vylor's S&P 500 seat remains as a multistate lawsuit targets its Corteva separation

October 10th, 2026: Judge stays Vylor asset order pending appeal

Overview

Updated Oct 22

Vylor took Corteva's S&P 500 seat on October 1, and Twilio replaced Warner Bros. Discovery on October 6, completing the index reshuffle S&P Dow Jones Indices announced. Corteva moved to the MidCap 400, and Olin, Formfactor and Workiva shifted tiers. Both newcomers closed lower on October 2, even as the S&P 500 rose.

The Vylor separation now faces a lawsuit from 15 states and one sovereign. A federal judge in Indiana issued a temporary restraining order on October 9 that barred Vylor and Corteva from disposing of assets outside normal business and from paying dividends or buying back stock. The judge stayed it on October 10 while an appeal proceeds; the spin-off was not undone, and Vylor stayed in the S&P 500.

Why it matters

Vylor's S&P 500 seat now comes with a legal fight that could limit its dividends and buybacks.

Questions about this story

Free account needed to ask — your question is kept and asked for you right after sign-up. Answers are public.

No questions yet — be the first to ask.

Key Indicators

6
Index position changes announced
Across the S&P 500, MidCap 400 and SmallCap 600 on October 1 and 6.
2
Pending acquisitions driving the reshuffle
Skyworks-Qorvo and Paramount Skydance-Warner Bros. Discovery.
$19B
Vylor technology pipeline
The seed and genetics company cites 12 platform launches over the next decade.
$11.2B-$11.9B
Vylor 2029 net sales target
Vylor says sales should grow 3% to 4% annually through the planning period.
-2.22%
Twilio's Oct 2 close
Twilio fell 2.22% to $294.58; Vylor dropped 1.47% to $67.26 the same day, even as the index rose.
16
Governments challenging Vylor separation
15 states and one sovereign sued in federal court in Indiana; a temporary asset freeze was stayed on October 10.

Voices

Curated perspectives — historical figures and your fellow readers.

Sign up to generate historical perspectives on this story.

Log in Sign Up

People Involved

Chuck Magro
Chuck Magro
Chief executive of Vylor
Leads Vylor after its October 1 spin-off from Corteva

Organizations Involved

S&P Dow Jones Indices
S&P Dow Jones Indices
Index provider
Completed the October index reshuffle

The index provider behind the S&P 500, MidCap 400 and SmallCap 600.
Vylor Inc.
Vylor Inc.
Public company
S&P 500 constituent since October 1; separation under legal challenge

Advanced seed and genetics company spun off from Corteva.
Corteva
Corteva
Public company
Moved from S&P 500 to S&P MidCap 400 on October 6

Agricultural company that spun off its seed and genetics arm.
Twilio Inc.
Twilio Inc.
Public company
Joined the S&P 500 on October 6

Cloud communications platform moving up from the S&P MidCap 400.
Skyworks Solutions Inc.
Skyworks Solutions Inc.
Public company
Acquiring Qorvo

Semiconductor firm buying chipmaker Qorvo.
Paramount Skydance
Paramount Skydance
Public company
Acquiring Warner Bros. Discovery

Media company buying Warner Bros. Discovery.

Timeline

7 events Latest: October 10th, 2026 · 1 month ago
Tap a bar to jump to that date

  1. Judge stays Vylor asset order pending appeal

    Latest Legal

    The district court stayed the October 9 order at the companies' request while the Seventh Circuit considers an emergency stay motion.

  2. Court issues temporary restraining order in Vylor case

    Legal

    The order barred Corteva and Vylor from disposing of assets outside ordinary business and from paying dividends or repurchasing shares.

  3. Twilio enters S&P 500, cascade takes effect

    Index change

    Twilio replaced Warner Bros. Discovery in the S&P 500, and Corteva, Olin, Formfactor and Workiva shifted tiers as announced, before trading opened.

  4. Twilio and Vylor close lower

    Market reaction

    Twilio fell 2.22% to $294.58 and Vylor fell 1.47% to $67.26, even as the S&P 500 rose 0.74%.

  5. Vylor completes spin-off, joins S&P 500

    Corporate action

    Vylor begins trading as VYLR on the NYSE and replaces Corteva in the S&P 500 the same day.

  6. S&P Dow Jones Indices announces October 6 moves

    Announcement

    Twilio to join the S&P 500, with four other changes set across the MidCap 400 and SmallCap 600.

  7. States and sovereign sue over Corteva-Vylor separation

    Legal

    15 states and one sovereign filed suit in the U.S. District Court for the Southern District of Indiana, challenging the separation and seeking injunctive relief.

Scenarios

1

Paramount Skydance completes Warner Bros. Discovery purchase

Likely Resolves by End of 2026

Discussed by: S&P Dow Jones Indices

The October 1 announcement says the merger is expected to complete soon, pending closing conditions. A completed deal confirms the October 6 removal of Warner Bros. Discovery from the S&P 500 and Twilio's entry in its place.

2

Skyworks completes Qorvo acquisition

Likely Resolves by End of 2026

Discussed by: S&P Dow Jones Indices

Skyworks Solutions is acquiring Qorvo in a deal expected to close soon. A completed acquisition confirms Qorvo's removal from the S&P SmallCap 600 and Olin Corp's move into the index.

3

A deal collapses and S&P reverses an index change

Unlikely Resolves by End of 2026

Discussed by: S&P Dow Jones Indices

If either acquisition falls apart after the index changes take effect, S&P Dow Jones Indices would need to adjust the affected entries. The October 6 lineup was set on the assumption that both deals close.

4

Seventh Circuit lets the Vylor asset freeze take effect

Possible Resolves by End of 2026

Discussed by: Vylor Inc. in its October 13 SEC filing

Vylor and Corteva asked the Seventh Circuit to keep the district court's October 9 order on hold. If the appeals court denies that request, the order would bar both companies from disposing of assets outside ordinary business and from paying dividends or buying back stock while the lawsuit proceeds.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

January 2013

Abbott spins off AbbVie (2013)

Abbott Laboratories split its branded pharmaceuticals business into a new company, AbbVie, which began trading January 2, 2013. AbbVie entered the S&P 500 the same day, alongside its former parent.

Then

Abbott stayed in the S&P 500 while AbbVie joined the index at the split.

Now

AbbVie has remained in the benchmark since, and the structure became a template for large pharmaceutical separations.

Why this matters now

The pattern of a large-cap parent spinning off a business that immediately joins the S&P 500 matches the Corteva-Vylor transaction.

November 2015

HP splits into two companies (2015)

Hewlett-Packard split into HP Inc, which kept the PC and printer business, and Hewlett Packard Enterprise, which took the server and services arm. Both began trading November 2, 2015.

Then

Hewlett Packard Enterprise was added to the S&P 500 on its first trading day.

Now

The split showed how index providers admit a newly created public company at the parent's index tier immediately after a corporate separation.

Why this matters now

Another case where a spin-off instantly entered the S&P 500, the same mechanism that put Vylor in the index on October 1, 2026.

Sources

(13)
+7
PR Newswire S&P Global MarketWatch Investing.com Securities.io The Brief MarketScreener UK Investor's Business Daily Benzinga Canada News Group Stock Spin-offs SEC EDGAR PR Newswire