NEW YORK, Feb. 21, 2019 /PRNewswire/ -- S&P MidCap
400 constituent Wabtec Corp. (NYSE: WAB) will replace The Goodyear
Tire & Rubber Co. (NASD: GT) in the S&P 500, and The
Goodyear Tire & Rubber will replace Wabtec in the S&P
MidCap 400 effective prior to the open of trading on Wednesday February 27. S&P 500 and 100
constituent General Electric Co. (NYSE: GE) is spinning off its
holdings of Transportation Systems Holdings Inc. to shareholders.
Immediately following the distribution, Transportation Systems
Holdings is being acquired by Wabtec in a transaction expected to
be completed on February 26, pending
final conditions. After the transaction, Wabtec will be more
representative of the large-cap market space. Goodyear Tire &
Rubber is more representative of the mid-cap market space. General
Electric will remain in the S&P 500 and 100.
Wabtec manufactures and supplies technology-based products and
components for freight and passenger rail, transit, power
generation, off-highway equipment and industrial markets.
Headquartered in Wilmerding, PA,
the company will be added to the S&P 500 Global Industry
Classification Standard (GICS) Construction Machinery & Heavy
Trucks Sub-Industry index.
Goodyear Tire & Rubber develops, manufactures, distributes
and sells tires and related products. Headquartered in Akron, OH, the company will be added to the
S&P MidCap 400 GICS Tires & Rubber Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX
– February 27, 2019
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Wabtec
|
Industrials
|
Construction
Machinery & Heavy Trucks
|
DELETED
|
Goodyear Tire &
Rubber
|
Consumer
Discretionary
|
Tires &
Rubber
|
S&P MIDCAP 400
INDEX – February 27, 2019
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Goodyear Tire &
Rubber
|
Consumer
Discretionary
|
Tires &
Rubber
|
DELETED
|
Wabtec
|
Industrials
|
Construction
Machinery & Heavy Trucks
|
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