NEW YORK, Oct. 30 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 100 and S&P 500 indices:
S&P 500 constituent Regions Financial Corp. will replace
RadioShack Corp. in the S&P 100, and Celgene Corp.
will replace AmSouth Bancorp in the S&P 500,
after the close of trading on Friday, November 3. AmSouth is being
acquired by Regions Financial in a deal expected to close before the open
of trading on Monday, November 6, pending final approvals. At today's
close of trading RadioShack had a market capitalization of approximately
$2.4 billion, ranking 100th in the S&P 100.
S&P continues to monitor the pending acquisition of BellSouth Corp. by fellow S&P 500 constituent AT&T Inc., and will post any relevant updates on its website: http://www.standardandpoors.com/ .
Regions Financial, together with its subsidiaries, offers a range of banking and financial services across the southeastern United States. Headquartered in Birmingham, AL, the company will be added to the S&P 100 GICS (Global Industry Classification Standard) Regional Banks Sub-Industry index.
Celgene engages in the discovery, development, and commercialization of therapies designed to treat cancer and immune-inflammatory-related diseases in the United States. Headquartered in Summit, NJ, the company will be added to the S&P 500 GICS Biotechnology Sub-Industry index.
Following is a summary of the changes:
S&P 100 INDEX - November 3, 2006
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Regions Financials Regional Banks
Financial
DELETED RadioShack Consumer Computer &
Discretionary Electronics Retail
S&P 500 INDEX - November 3, 2006
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Celgene Health Care Biotechnology
DELETED AmSouth Bancorp Financials Regional Banks
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.
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