PCTI PCTEL Inc

NEW YORK, May 22, 2014 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:

• Washington Prime Group Inc. (NYSE:WPGwi) will replace UTi Worldwide Inc. (NASD:UTIW) in the S&P MidCap 400, and UTi Worldwide will replace ArQule Inc. (NASD:ARQL) in the S&P SmallCap 600 effective after the close of trading on Wednesday, May 28. S&P 100 & 500 constituent Simon Property Group Inc. (NYSE:SPG) is spinning off Washington Prime Group to shareholders in a transaction expected to be completed after the close of trading on that date. Post spin, Simon Property Group will remain in the S&P 100 & 500. UTi Worldwide is ranked # 400 in the S&P MidCap 400 and is more appropriate for the S&P SmallCap 600. ArQule is ranked #600 in the S&P SmallCap 600 and is no longer representative of that index.

• NOW Inc. (NYSE:DNOWwi) will replace General Cable Corp. (NYSE:BGC) in the S&P MidCap 400, and General Cable will replace PCTEL Inc. (NASD:PCTI) in the S&P SmallCap 600 effective after the close of trading on Friday, May 30. S&P 100 & 500 constituent National Oilwell Varco Inc. (NYSE:NOV) is spinning off NOW to shareholders in a transaction expected to be completed after the close of trading on that date. Post spin, National Oilwell Varco will remain in the S&P 100 & 500. General Cable is ranked near the bottom of the S&P MidCap 400. PCTEL is ranked near the bottom of the S&P SmallCap 600 and is no longer representative of that index.

• Civeo Corp. (NYSE:CVEOwi) will replace Matthews International Corp. (NASD:MATW) in the S&P MidCap 400, and Matthews International will replace Sigma Designs Inc. (NASD:SIGM) in the S&P SmallCap 600 effective after the close of trading on Friday, May 30. S&P MidCap 400 constituent Oil States International Inc. (NYSE:OIS) is spinning off Civeo to shareholders in a transaction expected to be completed after the close of trading on that date. Post spin, Oil States International will remain in the S&P MidCap 400. Matthews International is ranked #399 in the S&P MidCap 400 and is more appropriate for the S&P SmallCap 600. Sigma Designs is ranked #599 in the S&P SmallCap 600 and is no longer appropriate for that index.

Washington Prime Group, operating as a Real Estate Investment Trust (REIT), owns a portfolio of strip centers and smaller enclosed mall properties. Headquartered in Indianapolis, IN, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Retail REITs Sub-Industry index.

UTi Worldwide is a non-asset-based supply chain services and solutions company. Headquartered in Long Beach, CA, the company will be added to the S&P SmallCap 600 GICS Air Freight & Logistics Sub-Industry index.

NOW distributes energy and industrial products. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 GICS Trading Companies & Distributors Sub-Industry index.

General Cable designs, develops, manufactures, markets, and distributes copper, aluminum, and fiber optic wire and cable products. Headquartered in Highland Heights, KY, the company will be added to the S&P SmallCap 600 GICS Electrical Components & Equipment Sub-Industry index.

Civeo is a provider of long-term and temporary remote site accommodations, logistics and facility management services. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 GICS Diversified Support Services Sub-Industry index.

Matthews International operates as a designer, manufacturer, and marketer of memorialization products and solutions for the cemetery and funeral home industries. Headquartered in Pittsburgh, PA, the company will be added to the S&P SmallCap 600 GICS Specialized Consumer Services Sub-Industry index.

Following is a summary of the changes:

Additions to and deletions from S&P  Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average™, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.  

Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

For more information:

David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
(212) 438 3907
david.blitzer@spdji.com 

David R. Guarino
Communications
S&P Dow Jones Indices
(212) 438 1471
dave.guarino@spdji.com

SOURCE S&P Dow Jones Indices