Standard & Poor's Announces Changes to U.S. Indices
Friday , February 13, 2009 18:59ET
NEW YORK, Feb. 13 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:
-- Diamond Offshore Drilling Inc. (NYSE: DO) will replace Weatherford International Ltd. (NYSE: WFT) in the S&P 500 on a date to be announced. Weatherford is in the process of redomesticating to Switzerland, rendering it ineligible for continued inclusion in the S&P 500.
-- S&P SmallCap 600 constituent Panera Bread Co. (Nasdaq: PNRA) will replace ArvinMeritor Inc. (NYSE: ARM) in the S&P MidCap 400, and CommVault Systems Inc. (Nasdaq: CVLT) will replace Panera Bread in the S&P SmallCap 600 after the close of trading on Friday, February 20. As of today's close, ArvinMeritor had a market capitalization below $75 million, ranking it 400th in the index.
-- Iowa Telecommunications Services Inc. (NYSE: IWA) will replace BankAtlantic Bancorp Inc. (NYSE: BBX), and Almost Family Inc. (Nasdaq: AFAM) will replace Basset Furniture Industries Inc. (Nasdaq: BSET) in the S&P SmallCap 600 after the close of trading on Friday, February 20. As of today's close, BankAtlantic and Bassett Furniture had market capitalizations of approximately $18 million and $21 million respectively, ranking them 600th and 599th in the index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.
Diamond Offshore provides contract drilling services to the energy industry, and is also engaged in deepwater drilling. Headquartered in Houston, TX, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Oil & Gas Drilling Sub-Industry index.
Panera Bread operates retail bakery-cafes. Headquartered in Richmond Heights, MO, the company will be added to the S&P MidCap 400 GICS Restaurants Sub-Industry index.
CommVault Systems is a provider of data management software applications and related services. Headquartered in Oceanport, NJ, the company will be added to the S&P SmallCap 600 GICS Systems Software Sub-Industry index.
Iowa Telecommunications Services is a provider of wireline local exchange telecommunications services to residential and business customers in rural Iowa. Headquartered in Newton, IA, the company will be added to the S&P SmallCap 600 GICS Integrated Telecommunication Services Sub-Industry index.
Almost Family is a provider of home health services. Headquartered in Louisville, KY, the company will be added to the S&P SmallCap 600 GICS Health Care Services Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX - TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Diamond Offshore Energy Oil & Gas Drilling DELETED Weatherford Energy Oil & Gas Equipment International & Services
S&P MIDCAP 400 INDEX - February 20, 2009 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Panera Bread Consumer Discretionary Restaurants DELETED ArvinMeritor Consumer Discretionary Auto Parts & Equipment
S&P SMALLCAP 600 INDEX - February 20, 2009 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED CommVault Systems Information Technology Systems Software Iowa Telecommunication Integrated Telecommunications Services Telecommunication Services Almost Family Health Care Health Care Services DELETED Panera Bread Consumer Discretionary Restaurants BankAtlantic Financials Thrifts & Mortgage Bancorp Finance Bassett Consumer Discretionary Home Furnishings Furniture
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 subsidiary of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With approximately 10,000 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.
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