Standard & Poor's Announces Changes to U.S. Indices
December 17 2007 - 6:03PM
PR Newswire (US)
NEW YORK, Dec. 17 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P 500 and S&P SmallCap 600:
-- Range Resources Corp. (NYSE:RRC) will replace Tribune Co.
(NYSE:TRB) in the S&P 500 after the close of trading on
Thursday, December 20. Tribune is being taken private in a deal
expected to close on or about that date, pending final approvals.
-- Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) will replace Coherent
Inc. (NASDAQ:COHR) in the S&P SmallCap 600 after the close of
trading on Tuesday, December 18. The Board of Directors of Nasdaq
has informed Coherent that its stock is scheduled to be delisted by
the exchange after the close of trading on that day, thus rendering
it ineligible for continued membership in the S&P SmallCap 600.
Standard & Poor's will monitor this transaction, and post any
relevant updates on its website: http://www.standardandpoors.com/.
Range Resources is engaged in the exploration, development and
acquisition of oil and gas properties, primarily in the Southwest,
Appalachian and Gulf Coast regions of the U.S. Headquartered in
Fort Worth, TX, the company will be added to the S&P 500 GICS
(Global Industry Classification Standard) Oil & Gas Exploration
& Production Sub-Industry index. Salix Pharmaceuticals
acquires, develops and commercializes prescription drugs used in
the treatment of a variety of gastrointestinal diseases.
Headquartered in Morrisville, NC, the company will be added to the
S&P SmallCap 600 GICS Pharmaceuticals Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - December
20, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Range
Resources Energy Oil & Gas Exploration & Production DELETED
Tribune Consumer Discretionary Publishing S&P SMALLCAP 600
INDEX - December 18, 2007 COMPANY GICS ECONOMIC SECTOR GICS
SUB-INDUSTRY ADDED Salix Health Care Pharmaceuticals DELETED
Coherent Information Technology Electronic Equipment Manufacturers
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 financial market intelligence,
including independent credit ratings, indices, risk evaluation,
investment research and data. With approximately 7,500 employees,
including wholly-owned affiliates, located in 21 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
2006 were $6.3 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 +1-212-438-3907 Web site:
http://www.standardandpoors.com/ http://www.mcgraw-hill.com/
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