DOW JONES NEWSWIRES
Standard & Poor's said it will move independent natural gas
and oil exploration company WPX Energy Inc. (WPX) into its S&P
500 index, replacing technology-management software maker Compuware
Corp. (CPWR).
Compuware will drop down to S&P's MidCap 400 index,
replacing Exterran Holdings Inc. (EXH), a provider of oil and gas
equipment. In turn, Exterran will take the place of Skyline Corp.
(SKY) in the S&P SmallCap 600 index.
The changes will take place after the close of trading on Dec.
30.
Williams Cos. Inc. (WMB), which will remain a member of the
S&P 500, is expected to spin off WPX Energy on Dec. 31.
Compuware's market capitalization is below $1.9 billion and no
longer warrants a spot in the top index, S&P said. Exterran's
market capitalization is below $600 million and is more
representative of the small cap market space. Skyline is ranked in
the 600th spot in the SmallCap index.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;
nathalie.tadena@dowjones.com