NEW YORK, June 24 NY-S&P-U.S.-Indices
NEW YORK, June 24 /PRNewswire/ -- Standard & Poor's will make the
following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:
-- Scripps Networks Interactive Inc. (NYSE: SNIwi) will replace E.W.
Scripps Co. (NYSE: SSP) in the S&P 500, and the new E.W. Scripps Co. (NYSE:
SSPwi) will replace BankUnited Financial Corp. (Nasdaq: BKUNA) in the S&P
SmallCap 600 after the close of trading on Monday, June 30. E.W. Scripps is
spinning off Scripps Networks Interactive in a transaction expected to go ex-
dividend on Tuesday, July 1. As of today's close of trading, BankUnited
Financial had a market cap of approximately $47 million, ranking 600th in the
index.
-- Lender Processing Services Inc. (NYSE: LPSwi) will replace Radian Group
Inc. (NYSE: RDN) in the S&P MidCap 400 after the close of trading on
Wednesday, July 2. Lender Processing Services is being spun off by S&P 500
constituent Fidelity National Information Services Inc. (NYSE: FIS), which
will remain in the S&P 500, in a transaction expected to go ex-dividend on
Thursday, July 3. As of today's close of trading, Radian Group had a market
cap of approximately $165 million, ranking 400th in the index.
Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: www.standardandpoors.com.
Scripps Networks Interactive will own cable TV brands HGTV, Food Network,
DIY Network, Fine Living and Great American Country, and online search and
comparison shopping services Shopzilla and uSwitch. Headquartered in
Cincinnati, OH, the company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Broadcasting & Cable TV Sub-Industry index.
The new E.W. Scripps will own daily and community newspapers in 15 markets
and 10 broadcast TV stations. Headquartered in Cincinnati, OH, the company
will be added to the S&P SmallCap 600 GICS Publishing Sub-Industry index,
changing from the S&P 500 Broadcasting & Cable TV Sub-Industry index, of which
it is currently a constituent.
Lender Processing Services will provide integrated technology and services
to the mortgage industry. Headquartered in Jacksonville, FL, the company will
be added to the S&P MidCap 400 GICS Data Processing & Outsourced Services
Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX - June 30, 2008
COMPANY GICS ECONOMIC SECTORGICS SUB-INDUSTRY
ADDEDScripps NetworksConsumer Discretionary Broadcasting &
Interactive Cable TV
DELETED E.W. ScrippsConsumer Discretionary Broadcasting &
Cable TV
S&P SMALLCAP 600 INDEX - June 30, 2008
COMPANYGICS ECONOMIC SECTORGICS SUB-INDUSTRY
ADDED E.W. Scripps Consumer Discretionary Publishing
DELETEDBankUnited Financials Thrifts & Mortgage
Financial Finance
S&P MIDCAP 400 INDEX - July 2, 2008
COMPANYGICS ECONOMIC SECTORGICS SUB-INDUSTRY
ADDED Lender Processing Information Technology Data Processing &
Services Outsourced Services
DELETEDRadian Group Financials Thrifts & Mortgage
Finance
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 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
$1.32 trillion invested and $4.91 trillion benchmarked, and the S&P Global
1200, a composite index comprised of seven regional and country headline
indices. For more information, please visit www.standardandpoors.com/indices.
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 8,500 employees, including wholly owned affiliates,
located in 23 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: 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 2007 were $6.8 billion. Additional information is available at
http://www.mcgraw-hill.com.
SOURCE Standard & Poor's
