Standard & Poor's Announces Changes to U.S. Indices
June 12 2008 - 6:28PM
PR Newswire (US)
NEW YORK, June 12 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P 500, S&P MidCap 400 and
S&P SmallCap 600 indices after the close of trading Friday,
June 20: -- S&P SmallCap 600 constituent Cabot Oil & Gas
Corp. (NYSE:COG) will replace Brunswick Corp. (NYSE:BC) in the
S&P 500, and Brunswick Corp. will replace Cabot Oil & Gas
in the S&P SmallCap 600. -- S&P SmallCap 600 constituent
Massey Energy Co. (NYSE:MEE) will replace OfficeMax Inc. (NYSE:OMX)
in the S&P 500, and OfficeMax will replace Massey Energy in the
S&P SmallCap 600. -- S&P SmallCap 600 constituent FLIR
Systems Inc. (NASDAQ:FLIR) will replace Ruby Tuesday Inc. (NYSE:RT)
in the S&P MidCap 400, and Ruby Tuesday will replace FLIR
Systems in the S&P SmallCap 600. -- S&P SmallCap 600
constituent Trimble Navigation Ltd. (NASDAQ:TRMB) will replace CSG
Systems International Inc. (NASDAQ:CSGS) in the S&P MidCap 400,
and CSG Systems will replace Trimble Navigation in the S&P
SmallCap 600. These changes are being implemented toward the end of
maintaining the cap-range appropriateness of the indices'
constituents, as well as the indices' representativeness of the
market's sector balance in those cap ranges. The market values of
all companies involved are more appropriate for the indices they
are moving to than the indices they are moving from. The modest
impact of M&A activity on the US indices thus far this year
affords us the opportunity to make these adjustments with
relatively minimal turnover. Standard & Poor's will monitor
these transactions, and post any relevant updates on its website:
http://www.standardandpoors.com/. Cabot Oil & Gas produces,
purchases and markets natural gas, and, to a lesser extent,
produces and sells crude oil. Headquartered in Houston, TX, the
company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Oil & Gas Exploration & Production
Sub-Industry index. Massey Energy produces coal. Headquartered in
Richmond, VA, the company will be added to the S&P 500 GICS
Coal & Consumable Fuels Sub-Industry index. Brunswick
manufactures marine engines and boats, and also has other
recreational businesses. Headquartered in Lake Forest, IL, the
company will be added to the S&P SmallCap 600 GICS Leisure
Products Sub-Industry index. OfficeMax is a retail and
business-to-business office products distributor. Headquartered in
Naperville, IL, the company will be added to the S&P SmallCap
600 GICS Specialty Stores Sub-Industry index. FLIR Systems designs,
manufactures and markets thermal imaging and broadcast camera
systems for use in commercial and government markets. Headquartered
in Wilsonville, OR, the company will be added to the S&P MidCap
400 GICS Electronic Equipment Manufacturers Sub-Industry index.
Ruby Tuesday owns, operates and franchises about 940 casual dining
restaurants. Headquartered in Maryville, TN, the company will be
added to the S&P SmallCap 600 GICS Restaurants Sub-Industry
index. Trimble Navigation provides advanced positioning product
solutions, typically to commercial and government users.
Headquartered in Sunnyvale, CA, the company will be added to the
S&P MidCap 400 GICS Electronic Manufacturing Services
Sub-Industry index. CSG Systems provides customer care and billing
services for cable and satellite providers. Headquartered in
Englewood, CO, the company will be added to the S&P SmallCap
600 GICS Data Processing & Outsourced Services Sub-Industry
index. Following is a summary of the changes: S&P 500 INDEX -
June 20, 2008 COMPANY GICS ECONOMIC GICS SECTOR SUB-INDUSTRY ADDED
Cabot Oil & Gas Energy Oil & Gas Exploration &
Production Massey Energy Energy Coal & Consumable Fuels DELETED
Brunswick Consumer Leisure Discretionary Products OfficeMax
Consumer Specialty Discretionary Stores S&P MIDCAP 400 INDEX -
June 20, 2008 COMPANY GICS ECONOMIC GICS SECTOR SUB-INDUSTRY ADDED
FLIR Information Electronic Equipment Systems Technology
Manufacturers Trimble Information Electronic Manufacturing
Navigation Technology Services DELETED Ruby Tuesday Consumer
Restaurants Discretionary CSG Systems Information Data Processing
Technology & Outsourced Services S&P SMALLCAP 600 INDEX -
June 20, 2008 COMPANY GICS ECONOMIC GICS SECTOR SUB-INDUSTRY ADDED
Brunswick Consumer Leisure Discretionary Products OfficeMax
Consumer Specialty Discretionary Stores Ruby Tuesday Consumer
Restaurants Discretionary CSG Systems Information Data Processing
Technology & Outsourced Services DELETED Cabot Oil & Gas
Energy Oil & Gas Exploration & Production Massey Energy
Energy Coal & Consumable Fuels FLIR Systems Information
Electronic Equipment Technology Manufacturers Trimble Navigation
Information Electronic Manufacturing Technology 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 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 $1.32 trillion invested and $4.91
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 23
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
2007 were $6.8 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 +1-212-438-3907 Web site:
http://www.standardandpoors.com/ http://www.mcgraw-hill.com/
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