Standard & Poor's Announces Changes to U.S. Indices
NEW YORK, March 3 /PRNewswire/ -- S&P will make the following changes to the S&P 500, S&P MidCap 400 and SmallCap 600 Indices:
- Transatlantic Holdings Inc. (NYSE: TRH) will replace Encore Acquisition Co. (NYSE: EAC) in the S&P MidCap 400 index after the close of trading on Tuesday, March 9. S&P 500 constituent Denbury Resources Inc. (NYSE: DNR) is acquiring Encore Acquisition in a deal expected to be completed on or about that date, pending final approvals.
- S&P MidCap 400 constituent ONEOK Inc. (NYSE: OKE) will replace The Black & Decker Corp. (NYSE: BDK) in the S&P 500 index, S&P SmallCap 600 constituent Greenhill & Co. Inc. (NYSE: GHL) will replace ONEOK in the S&P MidCap 400, and Powell Industries Inc. (Nasdaq: POWL) will replace Greenhill & Co. in the S&P SmallCap 600 index after the close of trading on Friday, March 12. Black & Decker is being acquired by S&P 500 constituent The Stanley Works (NYSE: SWK) 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.
Transatlantic Holdings offers reinsurance capacity for a range of property and casualty products to insurance and reinsurance companies. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Reinsurance Sub-Industry index.
ONEOK operates as a natural gas distributor. Headquartered in Tulsa, OK, the company will be added to the S&P 500 GICS Gas Utilities Sub-Industry index.
Greenhill & Co. operates as an independent investment bank. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS Investment Banking & Brokerage Sub-Industry index.
Powell Industries develops, designs, manufactures, and services equipment and systems for the management and control of electrical energy and other critical processes in the transportation, environmental, energy, industrial, and utility industries. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS Electrical Components & Equipment Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX – March 9, 2010
----------------------------------------
GICS ECONOMIC GICS SUB-
COMPANY SECTOR INDUSTRY
------- ------------- ---------
Transatlantic
ADDED Holdings Financials Reinsurance
----- -------------- ---------- -----------
Oil & Gas
Encore Exploration
DELETED Acquisition Energy & production
------- ----------- ------ ------------
S&P 500 INDEX – March 12, 2010
---------------------------------
GICS ECONOMIC GICS SUB-
COMPANY SECTOR INDUSTRY
------- ------------- ---------
ADDED ONEOK Utilities Gas Utilities
----- ----- --------- -------------
Black & Consumer Household
DELETED Decker Discretionary Appliances
------- ------- ------------- ----------
S&P MIDCAP 400 INDEX – March 12, 2010
-----------------------------------------
GICS ECONOMIC GICS SUB-
COMPANY SECTOR INDUSTRY
------- -------------- ---------
Investment
Greenhill Banking &
ADDED & Co. Financials Brokerage
----- --------- ---------- ----------
DELETED ONEOK Utilities Gas Utilities
------- ----- --------- -------------
S&P SMALLCAP 600 INDEX – March 12, 2010
-------------------------------------------
GICS ECONOMIC GICS SUB-
COMPANY SECTOR INDUSTRY
------- ------------- ---------
Electrical
Powell Components &
ADDED Industries Industrials Equipment
----- ---------- ----------- ------------
Investment
Greenhill Banking &
DELETED & Co. Financials Brokerage
------- --------- ---------- ----------
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 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 Global 1200, a composite index comprised of seven regional and country headline indices, the S&P Global BMI, an index with approximately 11,000 constituents, and the S&P GSCI, the industry's most closely watched commodities index. 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 offices 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 150 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.
SOURCE Standard & Poor's
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