Standard & Poor's Announces Changes to U.S. Indices
November 11 2008 - 6:24PM
PR Newswire (US)
NEW YORK, Nov. 11 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P 500 and S&P MidCap 400
indices: -- General Growth Properties Inc. (NYSE Arca: GGP) will be
removed from the S&P 500 after the close of trading on
Wednesday, November 12. As of today's close of trading General
Growth Properties had a market value of approximately $128 million,
ranking 500th in the index. -- S&P MidCap 400 constituent
Cephalon Inc. (NASDAQ:CEPH) will be added to the S&P 500, and
Mariner Energy Inc. (NYSE:ME) will replace Cephalon Inc. in the
S&P MidCap 400, after the close of trading on Friday, November
14. Cephalon is taking the place of General Growth Properties in
the S&P 500. Standard & Poor's will monitor these
transactions, and post any relevant updates on its website:
http://www.standardandpoors.com/. Cephalon is a biopharmaceutical
developer specializing in products related to the central nervous
system, pain, oncology and addiction. Headquartered in Frazer, PA,
the company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Biotechnology Sub-Industry index. Mariner
Energy is an oil and gas exploration, development and production
company operating principally in the Gulf of Mexico and the Permian
Basin in West Texas. Headquartered in Houston, TX, the company will
be added to the S&P MidCap 400 GICS Oil & Gas Exploration
& Production Sub-Industry index. Following is a summary of the
changes: S&P 500 INDEX - November 12, 2008 COMPANY GICS
ECONOMIC SECTOR GICS SUB-INDUSTRY DELETED General Growth Financials
Retail REITs Properties S&P 500 INDEX - November 14, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Cephalon
Health Care Biotechnology S&P MIDCAP 400 INDEX - November 14,
2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Mariner
Energy Energy Oil & Gas Exploration & Production DELETED
Cephalon Health Care Biotechnology 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 23
countries and markets, 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/
http://www.standardandpoors.com/indices
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