Standard & Poor's Announces Update to the U.S. Market Cap Guidelines and Changes to U.S. Indices
25 Septiembre 2008 - 6:38PM
PR Newswire (US)
NEW YORK, Sept. 25 /PRNewswire/ -- Standard & Poor's is
updating the market cap guidelines for its U.S. indices. Effective
today, the new guidelines are: -- S&P 500 -- $4 billion or
greater -- S&P MidCap 400 -- $1.0 billion to $4.5 billion --
S&P SmallCap 600 -- $250 million to $1.5 billion "Standard
& Poor's feels that the new market cap ranges for its U.S.
indices are appropriate, based on our review of recent market
activity, comments from index users and the current U.S. market cap
distribution," says David Blitzer, Managing Director and Chairman
of the Index Committee. The guidelines refer to a company's total
market capitalization, not its float-adjusted cap. Standard &
Poor's will make the following changes to the S&P MidCap 400
and S&P SmallCap 600 indices: -- S&P SmallCap 600
constituent Oceaneering International Inc. (NYSE:OII) will replace
Cypress Semiconductor Corp. (NYSE:CY) in the S&P MidCap 400,
and the Cypress Semiconductor stub (NYSE:CY-wi) will replace
Oceaneering International in the S&P SmallCap 600, after the
close of trading on Monday, September 29. Cypress Semiconductor is
spinning off its holdings in the Class B Common Stock of SunPower
Corp. to Cypress shareholders in a transaction expected to be
completed after the market closes on that date, pending final
approvals. -- Heartland Payment Systems Inc. (NYSE:HPY) will
replace Hilb Rogal & Hobbs Co. (NYSE:HRH) in the S&P
SmallCap 600 after the close of trading on Tuesday, September 30.
Hilb Rogal & Hobbs is being acquired in a deal expected to be
completed on or about that date, pending final approvals. --
Tekelec (NASDAQ:TKLC) will replace Sciele Pharma Inc. (NASDAQ:SCRX)
in the S&P SmallCap 600 after the close of trading on Friday,
October 3. Sciele Pharma is being acquired in a tender offer
expected to expire on or about that date, pending final approvals.
Standard & Poor's will monitor these transactions, and post any
relevant updates on its website: http://www.standardandpoors.com/.
Oceaneering International provides engineered products and
services, primarily to the offshore oil and gas industry.
Headquartered in Houston, TX, the company will be added to the
S&P MidCap 400 GICS (Global Industry Classification Standard)
Oil & Gas Equipment & Services Sub-Industry index. Cypress
Semiconductor is a broad-line semiconductor company and a supplier
of programmable solutions. Headquartered in San Jose, CA, the
company will be added to the S&P SmallCap 600 GICS
Semiconductors Sub-Industry index. Heartland Payment Systems
provides bank card payment processing services to merchants.
Headquartered in Princeton, NJ, the company will be added to the
S&P SmallCap 600 GICS Data Processing & Outsourced Services
Sub-Industry index. Tekelec is a provider of telecommunications
network systems and software applications. Headquartered in
Morrisville, North Carolina, 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 - September 29, 2008 COMPANY GICS ECONOMIC SECTOR GICS
SUB-INDUSTRY ADDED Oceaneering Energy Oil & Gas International
Equipment & Services DELETED Cypress Information Semiconductors
Semiconductor Technology S&P SMALLCAP 600 INDEX - September 29,
2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Cypress
Information Semiconductors Semiconductor - Technology when issued
DELETED Oceaneering Energy Oil & Gas International Equipment
& Services S&P SMALLCAP 600 INDEX - September 30, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Heartland
Information Data Processing & Payment Systems Technology
Outsourced Services DELETED Hilb Rogal & Hobbs Financials
Insurance Brokers S&P SMALLCAP 600 INDEX - October 3, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Tekelec
Information Communications Technology Equipment DELETED Sciele
Pharma Health Care Pharmaceuticals 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 21
countries. 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/
http://www.standardandpoors.com/indices
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