NEW YORK, July 25, 2014 /PRNewswire/ -- Paragon
Offshore Ltd. (NYSE: PGN) will replace Intevac Inc. (NASD:
IVAC) in the S&P SmallCap 600 effective after the close of
trading on Friday, August 1. S&P
500 constituent Noble Corp. (NYSE: NE) is spinning off Paragon
Offshore to shareholders in a transaction expected to be completed
after the close of trading on that date. Post spin, Noble will
remain in the S&P 500. Intevac is ranked # 600 in the S&P
SmallCap 600 and is no longer representative of that index.
Paragon Offshore is a provider of standard specification
offshore drilling rigs. Headquartered in Houston, TX, the company will be added to the
S&P SmallCap 600 GICS (Global Industry Classification Standard)
Oil & Gas Drilling Sub-Industry index.
Following is a summary of the change:
S&P SMALLCAP
600 INDEX – August 1, 2014
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Paragon
Offshore
|
Energy
|
Oil & Gas
Drilling
|
DELETED
|
Intevac
|
Information
Technology
|
Technology Hardware,
Storage & Peripherals
|
Additions to and deletions from S&P Dow Jones Indices
do not in any way reflect an opinion on the investment merits of
the companies involved.
About S&P Dow Jones Indices
S&P Dow Jones
Indices LLC, a part of McGraw Hill Financial, is the world's
largest, global resource for index-based concepts, data and
research. Home to iconic financial market indicators, such as the
S&P 500® and the Dow Jones Industrial Average™, S&P Dow
Jones Indices LLC has over 115 years of experience constructing
innovative and transparent solutions that fulfill the needs of
investors. More assets are invested in products based upon our
indices than any other provider in the world. With over 1,000,000
indices covering a wide range of asset classes across the globe,
S&P Dow Jones Indices LLC defines the way investors measure and
trade the markets. To learn more about our company, please visit
www.spdji.com.
Standard & Poor's and S&P are registered trademarks
of Standard & Poor's Financial Services LLC, a part of McGraw
Hill Financial. Dow Jones is a
registered trademark of Dow Jones Trademark Holdings LLC ("Dow
Jones"). These trademarks have been licensed to S&P Dow
Jones Indices LLC. It is not possible to invest directly in an
index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their
respective affiliates (collectively "S&P Dow Jones Indices") do
not sponsor, endorse, sell, or promote any investment fund or other
investment vehicle that is offered by third parties and that seeks
to provide an investment return based on the performance of any
index. This document does not constitute an offer of services in
jurisdictions where S&P Dow Jones Indices does not have the
necessary licenses. S&P Dow Jones Indices receives compensation
in connection with licensing its indices to third parties.
For more information:
David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
(212) 438 3907
david.blitzer@spdji.com
David R. Guarino
Communications
S&P Dow Jones Indices
(212) 438 1471
dave.guarino@spdji.com
SOURCE S&P Dow Jones Indices