NEW YORK, Aug. 29 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P 100, S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Monday, August 29: * S&P MidCap 400 constituent Coventry Health Care (NYSE:CVH) will
replace May Department Stores Co. (NYSE:MAY) in the S&P 500. May is
being acquired by S&P 500 constituent Federated Department Stores Inc. (NYSE:FD) in a deal expected to close on or about that date. The
combined company will remain in the S&P 500, and S&P 500 constituent
Abbott Laboratories (NYSE:ABT) will replace May in the S&P 100 Index.
* S&P SmallCap 600 constituent Timken Co. (NYSE:TKR) will replace
Coventry Health in the S&P MidCap 400, and ASV Inc. (NASD: ASVI) will
replace Timken in the S&P SmallCap 600.
* In addition, Joy Global Inc. (NASD: JOYG) will replace Storage
Technology Corp. (NYSE:STK) in the S&P MidCap 400 after the close of
trading on Wednesday, August 31, 2005. Storage Technology is being
acquired by S&P 500 constituent Sun Microsystems Inc. (NASD: SUNW)
in a deal expected to close on or about that date.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Coventry Health Care operates health plans, insurance companies, network rental/managed care services companies and workers' compensation services companies. Headquartered in Bethesda, MD, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Managed Heath Care Sub-Industry Index.
Headquartered in Abbott Park, IL, Abbot Laboratories makes drugs, nutritional products, diabetes monitoring devices and diagnostics.
Timken makes highly-engineered bearings and alloy steels for the auto, machinery, railroad, aerospace and agricultural industries. Headquartered in Canton, OH, the company will be added to the S&P MidCap 400 GICS Industrial Machinery Sub-Industry Index.
Joy Global manufactures and markets underground mining machinery and surface mining equipment. Headquartered in Milwaukee, WI, the company will be added to the S&P MidCap 400 Construction & Farm Machinery & Heavy Trucks Sub-Industry Index.
ASV makes track-driven all-season vehicles used in the construction, agricultural, landscaping, rental and military markets. Headquartered in Grand Rapids, MN, the company will be added to the S&P SmallCap 600 GICS Construction & Farm Machinery & Heavy Trucks Sub-Industry Index.
Following is a summary of the changes: S&P 500 INDEX -- August 29, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Coventry Health Care Health Care Managed Health Care
DELETED May Dept. Stores Consumer Discretionary Department Stores
S&P 100 INDEX -- August 29, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Abbott Laboratories Health Care Pharmaceuticals
DELETED May Dept. Stores Consumer Discretionary Department Stores
S&P MIDCAP 400 INDEX -- August 29, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Timken Industrials Industrial
Machinery
DELETED Coventry Health Care Health Care Managed Health Care
S&P SMALLCAP 600 INDEX -- August 29, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED ASV Industrials Construction & Farm Machinery & Heavy
Trucks
DELETED Timken Industrials Industrial
Machinery
S&P MIDCAP 400 INDEX -- August 31, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Joy Global Industrials Construction & Farm Machinery & Heavy
Trucks
DELETED Storage Technology Information Technology Computer Storage &
Peripherals 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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