NEW YORK, Oct. 29 /PRNewswire/ -- S&P 500 constituent Freeport -McMoRan Copper & Gold Inc. (NYSE:FCX) will replace Schering-Plough Corp. (NYSE:SGP) in the S&P 100, S&P MidCap 400 constituent Priceline.com Inc. (NASD: PCLN) will replace Schering-Plough in the S&P 500, and MSCI Inc. (NYSE:MXB) will replace Priceline.com in the S&P MidCap 400, all after the close of trading on a date to be announced. Schering-Plough is merging with S&P 100 and 500 constituent Merck & Co. (NYSE:MRK) in a deal expected to be completed soon pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Freeport -McMoRan Copper & Gold is headquartered in Phoenix, AZ.
Priceline.com is a global online travel company. Headquartered in Norwalk, CT, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Internet Retail Sub-Industry index.
MSCI is a provider of investment decision support tools. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS Specialized Finance Sub-Industry index.
Following is a summary of the changes:
S&P 100 INDEX - TBA
-------------------- COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
------- -------------------- -----------------
ADDED Freeport McMoRan Materials Diversified Metals
Copper & Gold & Mining DELETED Schering-Plough Health Care Pharmaceuticals S&P 500 INDEX - TBA
----------------------
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
------- -------------------- -----------------
ADDED Priceline.com Consumer Internet
Discretionary Retail DELETED Schering-Plough Health Care Pharmaceuticals
S&P MIDCAP 400 INDEX - TBA
-----------------------------
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
------- -------------------- -----------------
ADDED MSCI Financials Specialized
Finance DELETED Priceline.com Consumer Internet
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