NEW YORK, June 12 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading Friday, June 20: -- S&P SmallCap 600 constituent Cabot Oil & Gas Corp. (NYSE:COG) will
replace Brunswick Corp. (NYSE:BC) in the S&P 500, and Brunswick Corp. will replace Cabot Oil & Gas in the S&P SmallCap 600. -- S&P SmallCap 600 constituent Massey Energy Co. (NYSE:MEE) will replace
OfficeMax Inc. (NYSE:OMX) in the S&P 500, and OfficeMax will replace
Massey Energy in the S&P SmallCap 600. -- S&P SmallCap 600 constituent FLIR Systems Inc. (NASDAQ:FLIR) will
replace Ruby Tuesday Inc. (NYSE:RT) in the S&P MidCap 400, and Ruby
Tuesday will replace FLIR Systems in the S&P SmallCap 600. -- S&P SmallCap 600 constituent Trimble Navigation Ltd. (NASDAQ:TRMB)
will replace CSG Systems International Inc. (NASDAQ:CSGS) in the S&P
MidCap 400, and CSG Systems will replace Trimble Navigation in the S&P
SmallCap 600. These changes are being implemented toward the end of maintaining the cap-range appropriateness of the indices' constituents, as well as the indices' representativeness of the market's sector balance in those cap ranges. The market values of all companies involved are more appropriate for the indices they are moving to than the indices they are moving from. The modest impact of M&A activity on the US indices thus far this year affords us the opportunity to make these adjustments with relatively minimal turnover.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Cabot Oil & Gas produces, purchases and markets natural gas, and, to a lesser extent, produces and sells crude oil. 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.
Massey Energy produces coal. Headquartered in Richmond, VA, the company will be added to the S&P 500 GICS Coal & Consumable Fuels Sub-Industry index.
Brunswick manufactures marine engines and boats, and also has other recreational businesses. Headquartered in Lake Forest, IL, the company will be added to the S&P SmallCap 600 GICS Leisure Products Sub-Industry index.
OfficeMax is a retail and business-to-business office products distributor. Headquartered in Naperville, IL, the company will be added to the S&P SmallCap 600 GICS Specialty Stores Sub-Industry index.
FLIR Systems designs, manufactures and markets thermal imaging and broadcast camera systems for use in commercial and government markets. Headquartered in Wilsonville, OR, the company will be added to the S&P MidCap 400 GICS Electronic Equipment Manufacturers Sub-Industry index.
Ruby Tuesday owns, operates and franchises about 940 casual dining restaurants. Headquartered in Maryville, TN, the company will be added to the S&P SmallCap 600 GICS Restaurants Sub-Industry index.
Trimble Navigation provides advanced positioning product solutions, typically to commercial and government users. Headquartered in Sunnyvale, CA, the company will be added to the S&P MidCap 400 GICS Electronic Manufacturing Services Sub-Industry index.
CSG Systems provides customer care and billing services for cable and satellite providers. Headquartered in Englewood, CO, the company will be added to the S&P SmallCap 600 GICS Data Processing & Outsourced Services Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - June 20, 2008 COMPANY GICS ECONOMIC GICS
SECTOR SUB-INDUSTRY ADDED Cabot Oil & Gas Energy Oil & Gas Exploration
& Production Massey Energy Energy Coal & Consumable Fuels DELETED Brunswick Consumer Leisure
Discretionary Products OfficeMax Consumer Specialty
Discretionary Stores S&P MIDCAP 400 INDEX - June 20, 2008 COMPANY GICS ECONOMIC GICS
SECTOR SUB-INDUSTRY ADDED FLIR Information Electronic Equipment
Systems Technology Manufacturers Trimble Information Electronic Manufacturing
Navigation Technology Services DELETED Ruby Tuesday Consumer Restaurants
Discretionary CSG Systems Information Data Processing
Technology & Outsourced Services S&P SMALLCAP 600 INDEX - June 20, 2008 COMPANY GICS ECONOMIC GICS
SECTOR SUB-INDUSTRY ADDED Brunswick Consumer Leisure
Discretionary Products OfficeMax Consumer Specialty
Discretionary Stores Ruby Tuesday Consumer Restaurants
Discretionary CSG Systems Information Data Processing
Technology & Outsourced Services DELETED Cabot Oil & Gas Energy Oil & Gas Exploration
& Production Massey Energy Energy Coal & Consumable Fuels FLIR Systems Information Electronic Equipment
Technology Manufacturers Trimble Navigation Information Electronic Manufacturing
Technology Services 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 Index Services Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.32 trillion invested and $4.91 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit http://www.standardandpoors.com/indices.
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 8,500 employees, including wholly owned affiliates, located in 23 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 (NYSE:MHP) 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 280 offices in 40 countries. Sales in 2007 were $6.8 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/ http://www.mcgraw-hill.com/
|