Standard & Poor's Announces Changes to U.S. Indices
June 04 2009 - 6:06PM
PR Newswire (US)
NEW YORK, June 4 /PRNewswire/ -- S&P MidCap 400 constituent
Quanta Services Inc. (NYSE:PWR) will replace Ingersoll-Rand Company
Ltd. (NYSE:IR) in the S&P 500, S&P SmallCap 600 constituent
Valmont Industries Inc. (NYSE: VMI) will replace Quanta Services in
the S&P MidCap 400, and TeleTech Holdings Inc. (NASDAQ:TTEC)
will replace Valmont Industries in the S&P SmallCap 600 after
the close of trading on a date to be announced. Ingersoll-Rand is
in the process of redomesticating to Ireland, rendering it
ineligible for continued inclusion in the S&P 500 index.
Standard & Poor's will monitor this transaction, and post any
relevant updates on its website: http://www.standardandpoors.com/.
Quanta Services is a provider of specialty contracting services.
Headquartered in Houston, TX, the company will be added to the
S&P 500 GICS (Global Industry Classification Standard)
Construction & Engineering Sub-Industry index. Valmont
Industries designs and manufactures poles, towers and structures
for lighting and traffic, wireless communication and utility
markets, is a provider of protective coating services, and
manufactures mechanized irrigation equipment. Headquartered in
Omaha, NE, the company will be added to the S&P MidCap 400 GICS
Industrial Machinery Sub-Industry index. TeleTech Holdings is a
provider of onshore, offshore and work-from-home business process
outsourcing services. 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 - TBA COMPANY GICS
ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Quanta Industrials
Construction & Services Engineering DELETED Ingersoll-Rand
Industrials Industrial Machinery S&P MIDCAP 400 INDEX - TBA
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Valmont
Industrials Industrial Machinery Industries DELETED Quanta
Industrials Construction & Services Engineering S&P
SMALLCAP 600 INDEX - TBA COMPANY GICS ECONOMIC SECTOR GICS
SUB-INDUSTRY ADDED TeleTech Information Technology Data Processing
& Holdings Outsourced Services DELETED Valmont Industrials
Industrial Machinery Industries 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 subsidiary of The McGraw-Hill
Companies (NYSE:MHP), is the world's foremost provider of
independent credit ratings, indices, risk evaluation, investment
research and data. With approximately 10,000 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/
Copyright