Standard & Poor's Announces Changes to U.S. Indices
October 29 2007 - 5:59PM
PR Newswire (US)
NEW YORK, Oct. 29 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P MidCap 400 and S&P
SmallCap 600 indices: -- Metavante Technologies Inc. (NYSE:MVwi)
will replace UTStarcom Inc. (NASDAQ:UTSI) in the S&P MidCap 400
after the close of trading on Thursday, November 1, 2007. Metavante
is being spun off by S&P 500 constituent Marshall & Ilsley
Corp. (NYSE:MI) in a transaction expected to close on or about that
date. At today's close of trading, UTStarcom had a market
capitalization of approximately $398 million, ranking 400th in the
index. -- Service Corp. International (NYSE:SCI) will replace
Kyphon Inc. (NASDAQ:KYPH) in the S&P MidCap 400 after the close
of trading on a date to be announced. Kyphon is being acquired by
S&P 100 & 500 constituent Medtronic Inc. (NYSE:MDT) in a
deal still pending final approvals. -- Spartan Motors Inc.
(NASDAQ:SPAR) will replace Authorize.Net Holdings Inc.
(NASDAQ:ANET) in the S&P SmallCap 600 after the close of
trading on Thursday, November 1, 2007. Authorize.Net is being
acquired by S&P SmallCap 600 constituent CyberSource Corp.
(NASDAQ:CYBS) 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/. Metavante Technologies delivers
banking and payment technologies. Headquartered in Milwaukee, WI,
the company will be added to the S&P MidCap 400 GICS (Global
Industry Classification Standard) Data Processing & Outsourced
Services Sub-Industry index. Service Corp. provides funeral and
cemetery services. Headquartered in Houston, TX, the company will
be added to the S&P MidCap 400 GICS Specialized Consumer
Services Sub-Industry index. Spartan Motors engineers and
manufactures custom motor vehicle chassis and bodies. Headquartered
in Charlotte, MI, the company will be added to the S&P SmallCap
600 GICS Auto Parts & Equipment Sub-Industry index. Following
is a summary of the changes: S&P MIDCAP 400 INDEX - November 1,
2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Metavante
Information Technology Data Processing & Technologies
Outsourced Services DELETED UTStarcom Information Technology
Communications Equipment S&P MIDCAP 400 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Service Corp.
Consumer Discretionary Specialized Consumer Services DELETED Kyphon
Health Care Health Care Equipment S&P SMALLCAP 600 INDEX -
November 1, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Spartan Motors Consumer Discretionary Auto Parts &
Equipment DELETED Authorize.Net Information Technology Data
Processing & Outsourced 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 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 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 (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
2006 were $6.3 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 Standard & Poor's +1-212-438-3907 Web
site: http://www.standardandpoors.com/
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