NEW YORK, Dec. 20 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices: * Spectra Energy Corp. (NYSE:SEwi) will replace Parametric Technology
Corp. (NASDAQ:PMTC) in the S&P 500, and Parametric Technology will
replace Pier 1 Imports Inc. (NYSE:PIR) in the S&P MidCap 400 after the
close of trading on Friday, December 29. Spectra Energy is being spun
off by S&P 500 constituent Duke Energy Corp. (NYSE:DUK) in a
transaction expected to close on or about that date. At today's close of
trading Pier 1 had a market capitalization of approximately $556
million, ranking 400th in the index.
* Movado Group Inc. (NYSE:MOV) will replace Connetics Corporation
(NASDAQ:CNCT) in the S&P SmallCap 600 index after the close of trading
on a date to be announced. Connetics is being acquired by Stiefel
Laboratories Inc. in a deal that is still pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Spectra transmits, stores, distributes, gathers, and processes natural gas. Headquartered in Houston, TX, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Oil & Gas Storage & Transportation Sub-Industry index.
Parametric engages in the development and support of product lifecycle management and enterprise content management software solutions. Headquartered in Needham, MA, the company will be added to the S&P MidCap 400 GICS Application Software Sub-Industry index.
Movado engages in the design, development, marketing, distribution, and retailing of watches and jewelry. Headquartered in Paramus, NJ, the company will be added to the S&P SmallCap 600 GICS Apparel, Accessories & Luxury Goods Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX - December 29, 2006
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Spectra Energy Energy Oil & Gas Storage &
Transportation
DELETED Parametric Information Technology Application Software
Technology S&P MIDCAP 400 INDEX - December 29, 2006
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Parametric Information Technology Application Software
Technology
DELETED Pier 1 Consumer Discretionary Homefurnishing Retail S&P SMALLCAP 600 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Movado Consumer Discretionary Apparel, Accessories
& Luxury Goods
DELETED Connetics Health Care Pharmaceuticals 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 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 7,500 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/ About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 290 offices in 37 countries. Sales in 2005 were $6.0 billion. Additional information is available at http://www.mcgraw-hill.com/. DATASOURCE: Standard & Poor's CONTACT: David M. Blitzer, Ph.D.
Managing Director & Chairman of the Index Committee +1-212-438-3907 Web site: http://www.standardandpoors.com/
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