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Standard & Poor's Announces Changes to U.S. Indices
NEW YORK, July 24 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 100, S&P 500, MidCap 400 and S&P SmallCap 600 indices:
- S&P 500 constituent Qualcomm Inc. (Nasdaq: QCOM) will replace Clear Channel Communications Inc. (NYSE: CCU) in the S&P 100, and DaVita Inc. (NYSE: DVA) will replace Clear Channel in the S&P 500 after the close of trading on Wednesday, July 30. Clear Channel is being taken private in a transaction expected to close on or about that date, pending final approvals.
- S&P SmallCap 600 constituent ANSYS Inc. (Nasdaq: ANSS) will replace TriQuint Semiconductor Inc. (Nasdaq: TQNT) in the S&P MidCap 400, TriQuint will replace ANSYS in the S&P SmallCap 600, and Eclipsys Corp. (Nasdaq: ECLP) will replace Ansoft Corp. (Nasdaq: ANST) in the S&P SmallCap 600 after the close of trading on Thursday, July 31. Ansoft is being acquired by ANSYS in a transaction expected to close on or about that date. Eclipsys was previously announced as a replacement for S&P SmallCap 600 constituent W-H Energy Services Inc. (NYSE: WHQ), which is in the process of being acquired by S&P 500 constituent Smith International Inc. (NYSE: SII). A new replacement for W-H Energy will be announced at a later date.
- John Bean Technologies Corp. (NYSE: JBTwi) will replace Planar Systems Inc. (Nasdaq: PLNR) in the S&P SmallCap 600 after the close of trading on Thursday, July 31. John Bean Technologies is being spun off by S&P MidCap 400 constituent FMC Technologies Inc. (NYSE: FTI) in a transaction expected to close on that date. As of today's close of trading Planar Systems had a market capitalization of approximately $50 million, whereas the minimum market cap a company must maintain in order to be eligible for addition to the index is $300 million.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com.
Headquartered inSan Diego, CA, Qualcomm focuses on developing products and services based on its advanced wireless broadband technology.
DaVita provides integrated dialysis services for patients suffering from chronic kidney failure. Headquartered inEl Segundo, CA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Health Care Services Sub-Industry index.
ANSYS develops, markets and supports software solutions for design analysis and optimization. Headquartered inCanonsburg, PA, the company will be added to the S&P MidCap 400 GICS Application Software Sub-Industry index.
TriQuint Semiconductor supplies high performance gallium arsenide integrated circuits. Headquartered inHillsboro, OR, the company will be added to the S&P SmallCap 600 GICS Semiconductors Sub-Industry index.
Eclipsys provides advanced clinical, financial and management information software and service solutions to health care facilities. Headquartered inAtlanta, GA, the company will be added to the S&P SmallCap 600 GICS Health Care Technology Sub-Industry index.
John Bean Technologies offers systems and products for customers through their JBT FoodTech and JBT AeroTech segments. Headquartered inChicago, IL, the company will be added to the S&P SmallCap 600 GICS Industrial Machinery Sub-Industry index.
Following is a summary of the changes:
S&P 100 INDEX - July 30, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Qualcomm Information Technology Communications
Equipment
DELETED Clear Channel Consumer Discretionary Broadcasting & Cable TV
S&P 500 INDEX - July 30, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED DaVita Health Care Health Care Services
DELETED Clear Channel Consumer Discretionary Broadcasting & Cable TV
S&P MIDCAP 400 INDEX - July 31, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED ANSYS Information Technology Application Software
DELETED TriQuint
Semiconductor Information Technology Semiconductors
S&P SMALLCAP 600 INDEX - July 31, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED TriQuint
Semiconductor Information Technology Semiconductors
Eclipsys Health Care Health Care
Technology
John Bean
Technologies Industrials Industrial Machinery
DELETED ANSYS Information Technology Application Software
Ansoft Information Technology Application Software
Planar Systems Information Technology Electronic Equipment
Manufacturers
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
About Standard & Poor's Index Services
Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit http://www.standardandpoors.com/indices.
About Standard & Poor's
Standard & Poor's, a division of The McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries. Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.
SOURCE Standard & Poor's
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