S&P 500 Announces Changes to Stock Lineup
S&P will make the following changes to the S&P 500, S&P MidCap 400 and SmallCap 600 Indices after the close of trading on Friday, December 17:
Cablevision Systems Corp. (NYSE: CVC) will replace King Pharmaceuticals Inc. (NYSE: KG) in the S&P 500. S&P 100 & 500 constituent Pfizer Inc. (NYSE: PFE) is acquiring King Pharmaceuticals in a deal expected to be completed soon, pending final approvals.
Three S&P 500 constituents will switch places with three S&P MidCap 400 constituents, and three S&P MidCap 400 constituents will switch places with three S&P SmallCap 600 constituents. These transfers will make each index more representative of its market capitalization range; the companies moving to the S&P 500 all have market caps above $7 billion, the companies moving to the S&P MidCap 400 all have market caps between $1 billion and $3.5 billion, and the companies moving to the S&P SmallCap 600 all have market caps below $500 million. The transfers will be as follows:
S&P MidCap 400 constituents F5 Networks Inc. (Nasdaq: FFIV), Netflix Inc. (Nasdaq: NFLX) and Newfield Exploration Co. (NYSE: NFX) will replace The New York Times Co. (NYSE: NYT), Office Depot Inc. (NYSE: ODP) and Eastman Kodak Co. (NYSE: EK) in the S&P 500, and, likewise, The New York Times, Office Depot and Eastman Kodak will replace F5 Networks, Netflix and Newfield Exploration in the S&P MidCap 400 index.
S&P SmallCap 600 constituents SM Energy Co. (NYSE: SM), Concur Technologies Inc. (Nasdaq: CNQR) and East West Bancorp Inc. (Nasdaq: EWBC) will replace Corinthian Colleges Inc. (Nasdaq: COCO), Wilmington Trust Corp. (NYSE: WL) and Coldwater Creek Inc. (Nasdaq: CWTR) in the S&P MidCap 400, and likewise, Corinthian Colleges, Wilmington Trust and Coldwater Creek will replace SM Energy, Concur Technologies and East West Bancorp in the S&P SmallCap 600 index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website.
Cablevision Systems operates as a telecommunications, media, and entertainment company. Headquartered in Bethpage, NY, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Cable & Satellite Sub-Industry index.
F5 Networks Inc. provides technology that optimizes the delivery of network-based applications. Headquartered in Seattle, WA, the company will be added to the S&P 500 GICS Communications Equipment Sub-Industry index.
Continued on the next page
Follow Technorati