Standard & Poor's Announces Changes to U.S. Indices
20 November 2008 - 10:30AM
PR Newswire (US)
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: http://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 Information IT 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 SECTOR GICS 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 Photronics
Industrials Trucking Sunrise Senior Consumer Living Discretionary
Publishing & Printing CPI Information Internet Software &
Technology Services Select Comfort Consumer Discretionary
Homefurnishing Retail Southern Union Energy Oil & Gas Storage
& Transportation ManTech Information IT 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
http://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/. DATASOURCE: Standard & Poor's
CONTACT: David M. Blitzer, Ph.D., Managing Director & Chairman
of the Index Committee, +1-212-438-3907 Web Site:
http://www.standardandpoors.com/
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