NEW YORK, March 10, 2017 /PRNewswire/ -- S&P Dow
Jones Indices is updating the market cap guidelines for its U.S.
Indices. Effective today, the new guidelines are:
- S&P 500--$6.1 billion or
greater (previous range was $5.3
billion or greater)
- S&P MidCap 400--$1.6 billion to $6.8
billion (previous range was $1.4
billion to $5.9 billion)
- S&P SmallCap 600--$450 million to
$2.1 billion (previous range was $400
million to $1.8 billion)
"Based on our review of the market's progress – the S&P 500
is up 5.5% since the start of the year and 19% over the last 12
months – the Index Committee has revised the market cap guidelines
for the S&P 500, S&P MidCap 400 and S&P SmallCap 600,"
says David M. Blitzer, Managing
Director & Chairman of the Index Committee. "These
figures, which refer to total, not float adjusted market value, are
reviewed from time to time. The previous change took place in the
summer of 2014."
A history of market cap ranges dating back to 2007 can be found
in Appendix B of the U.S. Indices methodology. Please visit our
website www.spdji.com for further details.
To ensure each index more appropriately represents its market
capitalization range, S&P Dow Jones Indices will make the
following index adjustments effective prior to the open on
Monday, March 20 to coincide with the
March rebalance:
Three S&P 500 constituents
will switch places with three S&P MidCap 400 constituents and
three S&P MidCap 400 constituents will switch places with three
S&P SmallCap 600 constituents. All companies moving from the
S&P MidCap 400 to the S&P 500 have total market
capitalizations above $10 billion.
All companies moving from the S&P 500 to the S&P MidCap 400
have total market capitalizations below $3.4
billion. All other constituent moves are intended to make
each index more representative of its market capitalization
range.
S&P MidCap 400 constituents
Advanced Micro Devices Inc. (NASD:AMD), Raymond James
Financial Inc. (NYSE:RJF) and Alexandria Real Estate Equities Inc.
(NYSE:ARE) will replace Urban Outfitters Inc.(NASD:URBN), Frontier
Communications Corp. (NASD:FTR) and First Solar Inc. (NASD:FSLR)
respectively in the S&P 500, and Urban Outfitters, Frontier
Communications and First Solar will replace Advanced Micro Devices,
Raymond James Financial and Alexandria Real Estate Equities in the
S&P MidCap 400.
S&P SmallCap 600 constituents
Take-Two Interactive Software Inc. (NASD:TTWO), Masimo Corp.
(NASD:MASI) and Coherent Inc. (NASD:COHR) will replace Fossil Group
Inc. (NASD:FOSL), Denbury Resources Inc. (NYSE:DNR) and Vista
Outdoor Inc. (NYSE:VSTO) respectively in the S&P MidCap 400,
and Fossil Group, Denbury Resources and Vista Outdoor will replace
Take-Two Interactive Software, Masimo and Coherent in the S&P
SmallCap 600.
Advanced Micro Devices operates as a semiconductor company.
Headquartered in Sunnyvale, CA,
the company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Semiconductors Sub-Industry index.
Raymond James Financial engages in the underwriting,
distribution, trading, and brokerage of equity and debt securities,
and the sale of mutual funds and other investment products.
Headquartered in St. Petersburg,
FL, the company will be added to the S&P 500 GICS
Investment Banking & Brokerage Sub-Industry index.
Alexandria Real Estate Equities, a real estate investment trust
(REIT), engages in the ownership, operation, management,
development, acquisition, and redevelopment of properties for the
life sciences industry. Headquartered in Pasadena, CA, the company will be added to the
S&P 500 GICS Office REITs Sub-Industry index.
Urban Outfitters engages in the retail and wholesale of general
consumer products. Headquartered in Philadelphia, PA, the company will be added to
the S&P MidCap 400 GICS Apparel Retail Sub-Industry index.
Frontier Communications provides communications services to
residential, business, and wholesale customers. Headquartered in
Norwalk, CT, the company will be
added to the S&P MidCap 400 GICS Integrated Telecommunication
Services Sub-Industry index.
First Solar provides solar energy solutions. Headquartered in
Tempe, AZ, the company will be
added to the S&P MidCap 400 GICS Semiconductors Sub-Industry
index.
Take-Two Interactive Software develops, publishes, and markets
interactive entertainment solutions. Headquartered in New York, NY, the company will be added to the
S&P MidCap 400 GICS Home Entertainment Software Sub-Industry
index.
Masimo develops, manufactures, and markets noninvasive
monitoring technologies. Headquartered in Irvine, CA, the company will be added to the
S&P MidCap 400 GICS Health Care Equipment Sub-Industry
index.
Coherent provides lasers and laser-based technology in a range
of scientific, commercial, and industrial applications.
Headquartered in Santa Clara, CA,
the company will be added to the S&P MidCap 400 GICS Electronic
Equipment & Instruments Sub-Industry index.
Fossil Group designs, develops, markets, and distributes
consumer fashion accessories. Headquartered in Richardson, TX, the company will be added to
the S&P SmallCap 600 GICS Apparel, Accessories & Luxury
Goods Sub-Industry index.
Denbury Resources operates as an independent oil and natural gas
company. Headquartered in Plano,
TX, the company will be added to the S&P SmallCap 600
GICS Oil & Gas Exploration & Production Sub-Industry
index.
Vista Outdoor designs, manufactures, and markets consumer
products for the outdoor sports and recreation markets.
Headquartered in Farmington, UT,
the company will be added to the S&P SmallCap 600 GICS Leisure
Products Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX
– March 20, 2017
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Advanced Micro
Devices
|
Information
Technology
|
Semiconductors
|
|
Raymond James
Financial
|
Financials
|
Investment Banking
& Brokerage
|
|
Alexandria Real
Estate Equities
|
Real
Estate
|
Office
REITs
|
DELETED
|
Urban
Outfitters
|
Consumer
Discretionary
|
Apparel
Retail
|
|
Frontier
Communications
|
Telecommunication
Services
|
Integrated
Telecommunication Services
|
|
First
Solar
|
Information
Technology
|
Semiconductors
|
S&P MIDCAP 400
INDEX – March 20, 2017
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Urban
Outfitters
|
Consumer
Discretionary
|
Apparel
Retail
|
|
Frontier
Communications
|
Telecommunication
Services
|
Integrated
Telecommunication Services
|
|
First
Solar
|
Information
Technology
|
Semiconductors
|
|
Take-Two Interactive
Software
|
Information
Technology
|
Home Entertainment
Software
|
|
Masimo
|
Health
Care
|
Health Care
Equipment
|
|
Coherent
|
Information
Technology
|
Electronic Equipment
& Instruments
|
DELETED
|
Advanced Micro
Devices
|
Information
Technology
|
Semiconductors
|
|
Raymond James
Financial
|
Financials
|
Investment Banking
& Brokerage
|
|
Alexandria Real
Estate Equities
|
Real
Estate
|
Office
REITs
|
|
Fossil
Group
|
Consumer
Discretionary
|
Apparel, Accessories
& Luxury Goods
|
|
Denbury
Resources
|
Energy
|
Oil & Gas
Exploration & Production
|
|
Vista
Outdoor
|
Consumer
Discretionary
|
Leisure
Products
|
S&P SMALLCAP
600 INDEX – March 20, 2017
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Fossil
Group
|
Consumer
Discretionary
|
Apparel, Accessories
& Luxury Goods
|
|
Denbury
Resources
|
Energy
|
Oil & Gas
Exploration & Production
|
|
Vista
Outdoor
|
Consumer
Discretionary
|
Leisure
Products
|
DELETED
|
Take-Two Interactive
Software
|
Information
Technology
|
Home Entertainment
Software
|
|
Masimo
|
Health
Care
|
Health Care
Equipment
|
|
Coherent
|
Information
Technology
|
Electronic Equipment
& Instruments
|
S&P Dow Jones Indices is updating its policy regarding the
time period for when initial public offerings (IPOs) would become
eligible for S&P Composite 1500 inclusion. Effective today,
IPOs should have at least twelve months of trading on an eligible
exchange before being considered for addition to an index.
Previously, IPOs needed to be seasoned for six to twelve
months before being considered for addition to the S&P
Composite 1500. IPO eligibility criteria for the S&P Total
Market Index & S&P Completion Index remain unchanged. Below
is a summary of the change:
Change
|
Current
Methodology
|
New
Methodology
|
Treatment of
IPOs. will begin after the market closes on the Tuesday
preceding the second Friday of each rebalance month
(March/June/September & December) and will end post market
close on the third Friday of a rebalance month.
|
Initial public
offerings should be seasoned for six to twelve months before being
considered for addition to an index
|
Initial public
offerings should be traded on an eligible exchange for at least
twelve months before being considered for addition to an
index.
|
For more information about S&P Dow Jones Indices, please
visit www.spdji.com
ABOUT S&P DOW JONES
INDICES
S&P Dow Jones Indices is the largest global resource for
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iconic financial market indicators, such as the S&P
500® and the Dow Jones Industrial Average®.
More assets are invested in products based on our indices than
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defines the way investors measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE:
SPGI), which provides essential intelligence for individuals,
companies, and governments to make decisions with confidence. For
more information, visit www.spdji.com.
FOR MORE INFORMATION:
Soogyung Jordan
Global Head of
Communications
New York, USA
(+1) 212 438 2297
soogyung.jordan@spdji.com
David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com
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SOURCE S&P Dow Jones Indices