NEW YORK, March 5 /PRNewswire/ -- Ruth's Chris Steak House Inc. (NASDAQ:RUTH) will replace New Century Financial Corp. (NYSE:NEW) in the S&P SmallCap 600 index after the close of trading on Wednesday, March 7, 2007. At today's close of trading, New Century had a market capitalization of approximately $253 million, whereas the minimum market value a company must maintain in order to be eligible for addition to the index currently stands at $300 million.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Ruth's Chris Steak House operates as a steakhouse company. Headquartered in Heathrow, FL, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Restaurants Sub-Industry index.
Following is a summary of the change: S&P SMALLCAP 600 INDEX - March 7, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Ruth's Chris Consumer Discretionary Restaurants
Steak House
DELETED New Century Financials Mortgage REITs
Financial 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.
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