Standard & Poor's Announces Update to the U.S. Market Cap Guidelines and Changes to U.S. Indices
19 Dezember 2008 - 12:09AM
PR Newswire (US)
NEW YORK, Dec. 18 /PRNewswire/ -- Standard & Poor's is updating
the market cap guidelines for its U.S. indices. Effective today,
the new guidelines are: -- S&P 500 -- $3 billion or greater --
S&P MidCap 400 -- $750 million to $3.3 billion -- S&P
SmallCap 600 -- $200 million to $ 1.0 billion "Standard &
Poor's feels that the new market cap ranges for its U.S. indices
are appropriate, based on our review of recent market activity,
comments from index users and the current U.S. market cap
distribution," says David Blitzer, Managing Director and Chairman
of the Index Committee. The guidelines refer to a company's total
market capitalization, not its float-adjusted cap. Standard &
Poor's will make the following changes to the S&P 500, S&P
MidCap 400, and S&P SmallCap 600 indices effective after the
close of trading on a date to be announced: -- S&P MidCap 400
constituent McAfee Inc. (NYSE:MFE) will replace Barr
Pharmaceuticals Inc. (NYSE:BRL) in the S&P 500, S&P
SmallCap 600 constituent LKQ Corp (NASD: LKQX) will replace McAfee
in the S&P MidCap 400, and CIRCOR International Inc. (NYSE:CIR)
will replace LKQ in the SmallCap 600. Barr Pharmaceuticals is being
acquired by Teva Pharmaceuticals Industries Ltd. (NASD: TEVA) in a
transaction that is still pending final approvals. Standard &
Poor's will monitor these transactions, and post any relevant
updates on its website: http://www.standardandpoors.com/. McAfee is
a security technology company. Headquartered in Santa Clara, CA,
the company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Systems Software Sub-Industry index. LKQ
is a provider of recycled light vehicle products and aftermarket
collision replacement products. Headquartered in Chicago, IL, the
company will be added to the S&P MidCap 400 GICS Distributors
Sub-Industry index. CIRCOR International designs, manufactures and
distributes different valves and related fluid-control products.
Headquartered in Burlington, MA, the company will be added to the
S&P SmallCap 600 GICS Industrial Machinery Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - TBA
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED McAfee
Information Technology Systems Software DELETED Barr
Pharmaceuticals Health Care Pharmaceuticals S&P MIDCAP 400
INDEX - TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED
LKQ Consumer Discretionary Distributors DELETED McAfee Information
Technology Systems Software S&P SMALLCAP 600 INDEX - TBA
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED CIRCOR
Industrials Industrial Machinery DELETED LKQ Consumer Discretionary
Distributors 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 $1.5 trillion
invested and $4.85 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 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/. 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/
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