NEW YORK, Nov. 19 NY-S&P-Index-change
NEW YORK, Nov. 19 /PRNewswire/ -- Standard and Poor's will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Friday, November 21:
- S&P SmallCap 600 constituent Southern Union Co. (NYSE: SUG) will replace Avis Budget Group Inc. (NYSE: CAR) in the S&P MidCap 400, and The GEO Group Inc. (NYSE: GEO) will replace Southern Union in the S&P SmallCap 600. S&P SmallCap 600 constituent ManTech International Corp. (Nasdaq: MANT) will replace Media General Inc. (NYSE: MEG) in the S&P MidCap 400, and Axsys Technologies Inc. (Nasdaq: AXYS) will replace ManTech International in the S&P SmallCap 600. As of today's close, Avis Budget Group and Media General had market capitalizations of approximately $50 million and $68 million respectively, ranking them 400th and 399th in the index.
- Capella Education Co. (Nasdaq: CPLA) will replace Photronics Inc. (Nasdaq: PLAB), Hittite Microwave Corp. (Nasdaq: HITT) will replace Sunrise Senior Living Inc. (NYSE: SRZ), Interwoven Inc. (NASDAQ: IWOV) will replace CPI Corp. (NYSE: CPY), and Oil States International Inc. (NYSE: OIS) will replace Select Comfort Corp.(Nasdaq: SCSS) in the S&P SmallCap 600. As of today's close, Photronics, Sunrise Senior Living, CPI and Select Comfort all had market capitalizations below $25 million, whereas the minimum market capitalization needed for admission to the S&P SmallCap 600 index is currently $250 million.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website:
www.standardandpoors.com.
Southern Union is primarily engaged in the gathering, processing, transportation, storage and distribution of natural gas. Headquartered in
Houston, TX, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Oil & Gas Storage & Transportation Sub-Industry index.
ManTech International is a provider of advanced technology solutions and technical services to various
United States federal government agencies. Headquartered in
Fairfax, VA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) IT Consulting & Other Services Sub-Industry index.
The GEO Group is a provider of government-outsourced services. Headquartered in
Boca Raton, FL, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Security & Alarm Services Sub-Industry index.
Axsys Technologies is a designer and manufacturer of precision optical solutions for defense, aerospace, homeland security and high-performance commercial applications. Headquartered in
Rocky Hill, CT, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Aerospace & Defense Sub-Industry index.
Capella Education is an online post-secondary education services company. Headquartered in
Minneapolis, MN, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Education Services Sub-Industry index.
Hittite Microwave designs and develops high performance integrated circuits, modules and subsystems for radio frequency, microwave and millimeterwave applications. Headquartered in
Chelmsford, MA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Semiconductors Sub-Industry index.
Interwoven is a provider of content management software solutions. Headquartered in
San Jose, CA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Internet Software & Services Sub-Industry index.
Oil States International is a provider of specialty products and services to oil and gas drilling and production companies. Headquartered in
Houston, TX the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Oil & Gas Equipment & Services Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX - November 21, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Southern Union Energy Oil & Gas Storage &
Transportation
ManTech InformationIT Consulting &
International Technology Other Services
DELETED Avis Budget Group Industrials Trucking
Media General Consumer Publishing &
Discretionary Printing
S&P SMALLCAP 600 INDEX - November 21, 2008
COMPANY GICS ECONOMIC SECTORGICS SUB-INDUSTRY
ADDED Capella Education Consumer
Discretionary Education Services
Hittite Microwave Information
Technology Semiconductors
Interwoven Information Internet Software &
Technology Services
The GEO Group Industrials Security & Alarm
Services
Axsys Technologies Industrials Aerospace & Defense
Oil States Energy Oil & Gas Equipment &
International Services
DELETED PhotronicsIndustrials Trucking
Sunrise Senior Consumer
LivingDiscretionary Publishing & Printing
CPI Information Internet Software &
Technology Services
Select Comfort Consumer
Discretionary Homefurnishing Retail
Southern Union Energy Oil & Gas Storage &
Transportation
ManTech InformationIT Consulting & Other
International Technology Services
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
$1.5 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
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 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.
SOURCE Standard & Poor's
