Standard & Poor's Announces Changes to U.S. Indices
October 22 2008 - 6:28PM
PR Newswire (US)
NEW YORK, Oct. 22 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P MidCap 400 and S&P
SmallCap 600 indices: -- Clean Harbors Inc. (NASD: CLHB) will be
added to the S&P MidCap 400 after the close of trading on
Monday, October 27. Clean Harbors is taking the place of DRS
Technologies Inc. (NYSE:DRS) which was removed from the index after
the close of trading today upon completion of its acquisition by
S&P Global 1200 constituent Finmeccanica SpA. -- Brink's Home
Security Holdings Inc. (NYSE:CFL-w) will replace Charming Shoppes
(NASD: CHRS) in the S&P MidCap 400 after the close of trading
on Friday, October 31. Brink's Home Security is being spun off from
S&P MidCap 400 constituent The Brink's Company (NYSE:BCO) in a
transaction expected to be completed on or around that date. The
Brink's Company stub will remain in the index. As of today's close,
Charming Shoppes had a market capitalization of approximately $156
million whereas the minimum market cap required for inclusion in
the index is $1.0 billion. -- Fulton Financial Corp. (NASD: FULT)
will replace Foundry Networks, Inc. (NASD: FDRY) in the S&P
MidCap 400 after the close of trading on a date to be announced.
Foundry Networks is being acquired by Brocade Communications
Systems Inc. (NASD: BRCD) in a transaction still pending final
approvals. -- CorVel Corp. (NASD: CRVL) will replace OMNOVA
Solutions Inc (NYSE: NYSE:OMN) in the S&P SmallCap 600 after
the close of trading on Monday, October 27. As of today's close,
OMNOVA Solutions had a market capitalization of approximately $27
million, ranking it 600th in the index. Standard & Poor's will
monitor these transactions, and post any relevant updates on its
website: http://www.standardandpoors.com/. Clean Harbors provides
environmental services. Headquartered in Norwell, MA, the company
will be added to the S&P 400 GICS (Global Industry
Classification Standard) Environmental & Facilities Services
Sub-Industry index. Brink's Home Security Holdings markets,
installs, services and monitors security alarm systems.
Headquartered in Irving, TX, the company will be added to the
S&P MidCap 400 GICS Specialized Consumer Services Sub-Industry
index. Fulton Financial Corporation operates retail banks and other
financial services companies. Headquartered in Lancaster, PA the
company will be added to the S&P MidCap 400 GICS Regional Banks
Sub-Industry index. CorVel Corp. is a provider of medical cost
containment and managed care services. Headquartered in Irvine, CA,
the company will be added to the S&P SmallCap 600 GICS Health
Care Services Sub-Industry index. Following is a summary of the
changes: S&P MIDCAP 400 INDEX - October 22, 2008 COMPANY GICS
ECONOMIC SECTOR GICS SUB-INDUSTRY DELETED DRS Industrials Aerospace
& Defense Technologies S&P MIDCAP 400 INDEX - October 27,
2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Clean
Industrials Environmental & Harbors Facilities Services S&P
SMALLCAP 600 INDEX - October 27, 2008 COMPANY GICS ECONOMIC SECTOR
GICS SUB-INDUSTRY ADDED CorVel Health Care Health Care Services
DELETED OMNOVA Solutions Materials Specialty Chemicals S&P
MIDCAP 400 INDEX - October 31, 2008 COMPANY GICS ECONOMIC SECTOR
GICS SUB-INDUSTRY ADDED Brink's Home Industrials Specialized
Consumer Security Holdings Services DELETED Charming Shoppes
Consumer Apparel Retail Discretionary S&P MIDCAP 400 INDEX -
TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Fulton
Financial Financials Regional Banks DELETED Foundry Networks
Information Technology Communications Equipment 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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