NEW YORK, Oct. 1 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P REIT Composite indices after the close of trading on October 5, 2007: -- S&P MidCap 400 constituent Noble Energy Inc. (NYSE:NBL) will replace
Archstone-Smith Trust (NYSE:ASN) in the S&P 500, Lamar Advertising Co. (NASD: LAMR) will replace Noble Energy in the S&P MidCap 400, and
Ashford Hospitality Trust Inc. (NYSE:AHT) will replace Archstone-Smith
in the S&P REIT Composite. Archstone-Smith is being acquired by
affiliates of Tishman Speyer and S&P 100 and 500 constituent Lehman
Brothers Holdings Inc. (NYSE:LEH) in a deal expected to close on or
about that date, pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Noble Energy engages in the exploration, development, production, and marketing of crude oil and natural gas. Headquartered in Houston, TX, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Oil & Gas Exploration & Production Sub-Industry index.
Lamar Advertising provides outdoor advertising services. Headquartered in Baton Rouge, LA, the company will be added to the S&P MidCap 400 GICS Advertising Sub-Industry index.
Ashford Hospitality is a REIT that invests in the hospitality industry. Headquartered in Dallas, TX, the company will be added to the S&P REIT Composite GICS Specialized REITs sub-industry.
Following is a summary of the changes: S&P 500 INDEX - October 5, 2007
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Noble Energy Energy Oil & Gas Exploration &
Production DELETED Archstone-Smith Financials Residential REITs S&P MIDCAP 400 - October 5, 2007
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Lamar Advertising Consumer Discretionary Advertising DELETED Noble Energy Energy Oil & Gas
Exploration &
Production S&P REIT COMPOSITE INDEX - October 5, 2007
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Ashford Financials Specialized REITs
Hospitality
DELETED Archstone-Smith Financials Residential REITs
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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