Nvidia-Style Stock Splits Are Mixed Blessing for S&P 500

Nvidia Inc.’s market-beating advance Friday in response to a stock split may be short-lived, based on recent history. The chipmaker climbed 2.6% after its board approved a 4-for-1 split, proposed for July, as the S&P 500 Index declined 0.1%. Nvidia is the 10th current member of the S&P 500 to announce a split since last year, according to data compiled by Bloomberg. Only four out of the other nine beat the index in the first three months after their declarations -- including Tesla Inc., whose split preceded its S&P 500 selection.