Standard & Poor's Announces Changes to U.S. Indices
August 29 2005 - 10:12AM
PR Newswire (US)
NEW YORK, Aug. 29 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P 500, S&P 100, S&P
MidCap 400 and S&P SmallCap 600 indices after the close of
trading on Monday, August 29: * S&P MidCap 400 constituent
Coventry Health Care (NYSE:CVH) will replace May Department Stores
Co. (NYSE:MAY) in the S&P 500. May is being acquired by S&P
500 constituent Federated Department Stores Inc. (NYSE:FD) in a
deal expected to close on or about that date. The combined company
will remain in the S&P 500, and S&P 500 constituent Abbott
Laboratories (NYSE:ABT) will replace May in the S&P 100 Index.
* S&P SmallCap 600 constituent Timken Co. (NYSE:TKR) will
replace Coventry Health in the S&P MidCap 400, and ASV Inc.
(NASD: ASVI) will replace Timken in the S&P SmallCap 600. * In
addition, Joy Global Inc. (NASD: JOYG) will replace Storage
Technology Corp. (NYSE:STK) in the S&P MidCap 400 after the
close of trading on Wednesday, August 31, 2005. Storage Technology
is being acquired by S&P 500 constituent Sun Microsystems Inc.
(NASD: SUNW) in a deal expected to close on or about that date.
Standard & Poor's will monitor these transactions, and post any
relevant updates on its website: http://www.standardandpoors.com/.
Coventry Health Care operates health plans, insurance companies,
network rental/managed care services companies and workers'
compensation services companies. Headquartered in Bethesda, MD, the
company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Managed Heath Care Sub-Industry Index.
Headquartered in Abbott Park, IL, Abbot Laboratories makes drugs,
nutritional products, diabetes monitoring devices and diagnostics.
Timken makes highly-engineered bearings and alloy steels for the
auto, machinery, railroad, aerospace and agricultural industries.
Headquartered in Canton, OH, the company will be added to the
S&P MidCap 400 GICS Industrial Machinery Sub-Industry Index.
Joy Global manufactures and markets underground mining machinery
and surface mining equipment. Headquartered in Milwaukee, WI, the
company will be added to the S&P MidCap 400 Construction &
Farm Machinery & Heavy Trucks Sub-Industry Index. ASV makes
track-driven all-season vehicles used in the construction,
agricultural, landscaping, rental and military markets.
Headquartered in Grand Rapids, MN, the company will be added to the
S&P SmallCap 600 GICS Construction & Farm Machinery &
Heavy Trucks Sub-Industry Index. Following is a summary of the
changes: S&P 500 INDEX -- August 29, 2005 COMPANY GICS ECONOMIC
SECTOR GICS SUB-INDUSTRY ADDED Coventry Health Care Health Care
Managed Health Care DELETED May Dept. Stores Consumer Discretionary
Department Stores S&P 100 INDEX -- August 29, 2005 COMPANY GICS
ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Abbott Laboratories Health
Care Pharmaceuticals DELETED May Dept. Stores Consumer
Discretionary Department Stores S&P MIDCAP 400 INDEX -- August
29, 2005 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED
Timken Industrials Industrial Machinery DELETED Coventry Health
Care Health Care Managed Health Care S&P SMALLCAP 600 INDEX --
August 29, 2005 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED ASV Industrials Construction & Farm Machinery & Heavy
Trucks DELETED Timken Industrials Industrial Machinery S&P
MIDCAP 400 INDEX -- August 31, 2005 COMPANY GICS ECONOMIC SECTOR
GICS SUB-INDUSTRY ADDED Joy Global Industrials Construction &
Farm Machinery & Heavy Trucks DELETED Storage Technology
Information Technology Computer Storage & Peripherals 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 Standard & Poor's, a
division of The McGraw-Hill Companies (NYSE:MHP), is the world's
foremost provider of independent credit ratings, indices, risk
evaluation, investment research, data and valuations. With 6,500
employees located in 22 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/. Founded in
1888, The McGraw-Hill Companies 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, BusinessWeek and
McGraw-Hill Education. The Corporation has more than 300 offices in
40 countries. Sales in 2004 were $5.3 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 for
Standard & Poor's, +1-212-438-3907 Web site:
http://www.standardandpoors.com/ http://www.mcgraw-hill.com/
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