Standard & Poor's Announces Changes to U.S. Indices

NEW YORK, March 24, 2011 /PRNewswire/ -- S&P will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indices:

• Huntington Ingalls Industries Inc. (NYSE: HIIwi) will replace Dynegy Inc. (NYSE: DYN) in the S&P MidCap 400 index after the close of trading on Wednesday, March 30. S&P 500 constituent Northrop Grumman Corp. (NYSE: NOC) is spinning off Huntington Ingalls Industries to its shareholders in a transaction expected to be completed after the market close on or about that date. The Northrop Grumman stub will remain in the S&P 500 index following the spin-off. Dynegy's market capitalization has fallen below $735 million, and is no longer representative of the mid-cap space.

• S&P MidCap 400 constituent Edwards Lifesciences Corp. (NYSE: EW) will replace Qwest Communications International Inc. (NYSE: Q) in the S&P 500 index, S&P SmallCap 600 constituent The Cooper Companies Inc. (NYSE: COO) will replace Edwards Lifesciences in the S&P MidCap 400 index, and Koppers Holdings Inc. (NYSE: KOP) will replace The Cooper Companies in the S&P SmallCap 600 index after the close of trading on Thursday, March 31. Qwest Communications International is being acquired by S&P 500 constituent CenturyLink Inc. (NYSE: CTL) in a deal expected to be completed on or about that date, pending final approvals.

Standard & Poor's will monitor these transactions and post any relevant updates on its website: www.standardandpoors.com.

Huntington Ingalls Industries designs, constructs, repairs and maintains nuclear-powered and non-nuclear powered ships. Headquartered in Newport News, VA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Aerospace & Defense Sub-Industry index.  

Edwards Lifesciences provides products and technologies designed to treat advanced cardiovascular diseases. Headquartered in Irvine, CA, the company will be added to the S&P 500 GICS Health Care Equipment Sub-Industry index.  

The Cooper Companies develops, manufactures, and markets healthcare products. Headquartered in Pleasanton, CA, the company will be added to the S&P MidCap 400 GICS Health Care Supplies Sub-Industry index.

Koppers Holdings provides carbon compounds and commercial wood treatment products. Headquartered in Pittsburgh, PA, the company will be added to the S&P SmallCap 600 GICS Commodity Chemicals Sub-Industry index.

Following is a summary of the changes:

For more information about S&P Indices, please visit www.standardandpoors.com/indices.

About S&P Indices

S&P Indices, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit www.standardandpoors.com/indices.

For more information contact:

David M. Blitzer, Ph.D.
Managing Director & Chairman of the Index Committee
(212) 438-3907

SOURCE Standard & Poor's

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