Standard & Poor's Announces Changes to U.S. Indices
March 07 2005 - 6:51PM
PR Newswire (US)
Standard & Poor's Announces Changes to U.S. Indices NEW YORK,
March 7 /PRNewswire/ -- Standard & Poor's will make the
following changes to the S&P 500, S&P MidCap 400 and
S&P SmallCap 600 indices after the close of trading on Friday,
March 11: * National Oilwell Varco Inc. (NYSE:NOV) will replace
Power-One Inc. (NASD: PWER) in the S&P 500. National Oilwell
Inc. (NYSE:NOI) is acquiring fellow S&P MidCap 400 constituent
Varco International Inc. (NYSE:VRC) in a deal expected to close on
or about that date, subject to shareholder approval. After the
close of trading on Friday, March 4, Power-One had a market
capitalization of approximately $474 million, ranking 500th in the
S&P 500. * F5 Networks Inc. (NASD: FFIV) will replace National
Oilwell, while S&P SmallCap 600 constituent Yellow Roadway
Corp. (NASD: YELL) will replace Varco International, in the S&P
MidCap 400. * The Finish Line Inc. (NASD: FINL) will replace Yellow
Roadway in the S&P SmallCap 600. As previously announced, all
S&P index additions will be made at the added companies' half
float-adjusted market capitalization weight. Standard & Poor's
will monitor these transactions, and post any relevant updates on
its website: http://www.standardandpoors.com/ . National Oilwell
Varco manufactures machinery, motors and tools used in oil and gas
drilling and production. Headquartered in Houston, TX, the company
will be added to the S&P 500 GICS (Global Industry
Classification Standard) Oil & Gas Equipment & Services
Sub-Industry Index. F5 Networks focuses on application traffic
management products to help manage Internet traffic to servers and
network devices. Headquartered in Seattle, WA, the company will be
added to the S&P MidCap 400 Communications Equipment
Sub-Industry Index. Yellow Roadway is a transportation service
provider. Headquartered in Overland Park, KS, the company will be
added to the S&P MidCap 400 GICS Trucking Sub-Industry Index.
The Finish Line is a mall-based athletic footwear, apparel and
accessories specialty retailer. Headquartered in Indianapolis, IN,
the company will be added to the S&P SmallCap 600 Apparel
Retail Sub-Industry Index. Following is a summary of the changes:
S&P 500 INDEX - March 11, 2005 COMPANY GICS ECONOMIC SECTOR
GICS SUB-INDUSTRY ADDED National Oilwell Energy Oil & Gas
Equipment & Varco Services DELETED Power-One Industrials
Electrical Components & Equipment S&P MIDCAP 400 INDEX -
March 11, 2005 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED
F5 Networks Information Technology Communications Equipment Yellow
Roadway Industrials Trucking DELETED National Oilwell Energy Oil
& Gas Equipment & Services Varco International Energy Oil
& Gas Equipment & Services S&P SMALLCAP 600 INDEX -
March 11, 2005 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED
The Finish Line Consumer Discretionary Apparel Retail DELETED
Yellow Roadway Industrials Trucking 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 6,000 employees 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/ . 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 280 offices in 37 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 +1-212-438-3907 Web site:
http://www.standardandpoors.com/ http://www.mcgraw-hill.com/
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