BUZZ - James Hardie Industries shares rise after inclusion in S&P MidCap Index, set to replace Roku

November 9 - ** Shares of James Hardie Industries plc JHX.N listed in the US rose 4.6% pre-market to $29.14, as the company will join the S&P MidCap 400 Index .IDX this week.

** S&P Dow Jones Indices announced on Friday evening (link) that JHX will replace Roku ROKU.O in IDX beginning Wednesday, November 11.

** Fox Corp FOXA.O completed (link) its $22 billion (link) acquisition of streaming platform Roku on Friday

** Stephens analyst Melissa Roberts said in a report that passive funds are expected to need to buy 79 million shares of JHX, representing nearly 10 days of buying demand

** Ireland-based JHX has approximately 581.65 million shares outstanding, with a market capitalization of about $16 billion

** The fiber cement manufacturer warned last week (link) that earnings in the second half of fiscal 2027 will decline due to weakness in the US housing market

** As of the previous session’s close, the company's US-listed shares have risen a cumulative 34% so far this year, with a 13% increase in the past month

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