Cyberonics Set to Join the S&P MidCap 400; Ruckus Wireless to Join S&P SmallCap 600
NEW YORK, Oct. 5, 2015 /PRNewswire/ -- S&P SmallCap 600 constituent Cyberonics Inc. (NASD:CYBX) will replace Home Properties Inc. (NYSE:HME) in the S&P MidCap 400, and Ruckus Wireless Inc. (NYSE:RKUS) will replace Cyberonics in the S&P SmallCap 600 after the close of trading on Wednesday, October 7. Lone Star Funds is acquiring Home Properties in a deal expected to be completed on or about that date, pending final approvals. Cyberonics is merging with Sorin SpA in a deal expected to be completed soon. Post merger, Cyberonics will change its name to LivaNova plc, and its combined market capitalization is anticipated to be more representative of the mid-cap market space.
Cyberonics designs, develops, markets, and sells medical devices. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Health Care Equipment Sub-Industry index.
Ruckus Wireless provides carrier-class Wi-Fi solutions to service providers and enterprises. Headquartered in Sunnyvale, CA, the company will be added to the S&P SmallCap 600 GICS Communications Equipment Sub-Industry index.
Following is a summary of the changes:
| S&P MIDCAP 400 INDEX – October 7, 2015 |
|||
| COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
| ADDED |
Cyberonics |
Health Care |
Health Care Equipment |
| DELETED |
Home Properties |
Financials |
Residential REITs |
| S&P SMALLCAP 600 INDEX – October 7, 2015 |
|||
| COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
| ADDED |
Ruckus Wireless |
Information Technology |
Communications Equipment |
| DELETED |
Cyberonics |
Health Care |
Health Care Equipment |
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.
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SOURCE S&P Dow Jones Indices
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