NEW YORK, April 25 /PRNewswire/ -- Matthews International Corp. (NASDAQ:MATW) will replace Swift Transportation Co. Inc. (NASDAQ:SWFT) in the S&P MidCap 400 index after the close of trading on a date to be announced. Swift Transportation is being acquired by its former Chairman and Chief Executive Officer, Jerry Moyes, in a deal still pending final approvals.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Matthews engages in the design, manufacture, and sale of memorialization products and brand solutions for the cemetery and funeral home industries. Headquartered in Pittsburgh, PA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Specialized Consumer Services Sub-Industry index.
Following is a summary of the change:
S&P MIDCAP 400 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Matthews Consumer Discretionary Specialized Consumer Services DELETED Swift Industrials Trucking Transportation 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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