Mallinckrodt to Join S&P MidCap 400 (6/20/13)
NEW YORK, June 20, 2013 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, MidCap 400 and SmallCap 600 indices:
News Corp. (NASD: NWSAV) will replace Apollo Group Inc. (NASD: APOL) in the S&P 500, Apollo Group will replace Forest Oil Corp. (NYSE: FST) in the S&P MidCap 400, and Forest Oil will replace Enzo Biochem Inc. (NYSE: ENZ) in the S&P SmallCap 600 after the close of trading on Friday, June 28. S&P 100 & 500 constituent News Corp. (NASD: NWSA), which is changing its name to 21st Century Fox, is spinning off News Corp. in a transaction expected to be completed on or about that date. The renamed 21st Century Fox will remain in the S&P 100 & 500 indices. Apollo Group's and Forest Oil's market capitalizations are more representative of the mid cap and small cap market spaces respectively. Enzo Biochem is ranked #599 in the S&P SmallCap 600 and is no longer appropriate for that index.
Mallinckrodt plc (NYSE: MNKwi) will replace Tellabs Inc. (NASD: TLAB) in the S&P MidCap 400 after the close of trading on Friday, June 28. S&P 500 constituent Covidien plc (NYSE: COV) is spinning off Mallinckrodt in a transaction expected to be completed on or about that date. The Covidien stub will remain in the S&P 500. Tellabs' market cap is below $750 million and is no longer representative of the mid cap market space.
Tesco Corp. (NASD: TESO) will replace CH Energy Group Inc. (NYSE: CHG) in the S&P SmallCap 600 after the close of trading on Wednesday, June 26. Fortis Inc. is acquiring CH Energy Group in a deal expected to be completed soon.
News Corp. businesses include newspapers, information services and integrated marketing services, digital real estate services, book publishing, digital education and sports programming and pay-tv distribution in Australia. Headquartered in New York, NY, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Publishing Sub-Industry index.
Apollo Group provides online and on-campus educational programs. Headquartered in Phoenix, AZ, the company will be added to the S&P MidCap 400 GICS Education Services Sub-Industry index.
Forest Oil engages in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids. Headquartered in Denver, CO, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index.
Mallinckrodt plc develops, manufactures, markets, and distributes pharmaceutical products. Headquartered in Dublin, Ireland, the company will be added to the S&P MidCap 400 GICS Pharmaceuticals Sub-Industry index.
Tesco engages in the design, manufacture, and service delivery of technology based solutions for the upstream energy industry. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index.
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