NEW YORK, March 22 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 100, S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices after the close of trading on Friday, March 30:
-- Kraft Foods Inc. will replace Eastman Kodak Co. in the S&P 100 and Sabre Holdings Corp. in the S&P 500.
S&P 500 and S&P 100 constituent Altria Group Inc. is
spinning off its ownership in Kraft Foods in a transaction expected to
close on or about that date. Sabre Holdings Corp is being acquired by
affiliates of Silver Lake Partners and Texas Pacific Group in a deal
expected to close on or about that date, pending final approvals. After
today's close of trading, Eastman Kodak had a market capitalization of
approximately $6.8 billion, ranking 100th in the S&P 100.
-- Broadridge Financial Solutions Inc. will replace Plexus
Corp. (NASD: PLXS) in the S&P MidCap 400 and Plexus Corp. will replace
Wellman Inc. in the S&P SmallCap 600. Broadridge is being
spun off by S&P 500 constituent Automatic Data Processing Inc. in a transaction expected to close on or about that date. At
today's close of trading Wellman had a market capitalization of
approximately $119 million, whereas the minimum market capitalization
required for addition to the S&P SmallCap 600 currently stands at $300
million.
-- KBR Inc. will replace Newport Corp. (NASD: NEWP) in the
S&P MidCap 400 and Newport Corp. will replace Lenox Group Inc. in the S&P SmallCap 600. S&P 500 and S&P 100 constituent
Halliburton Co. is spinning off its ownership in KBR Inc. in a transaction expected to close on or about that date. At today's close of trading Lenox Group had a market capitalization of approximately $82 million, whereas the minimum market capitalization required for addition to the S&P SmallCap 600 currently stands at $300 million.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Kraft Foods engages in the manufacture and sale of packaged foods and beverages. Headquartered in Northfield, IL, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Packaged Foods & Meats Sub-Industry index.
Broadridge Financial Solutions will engage in brokerage services, securities clearing, and outsourcing services. Headquartered in Jersey City, NJ, the company will be added to the S&P MidCap 400 Data Processing & Outsourced Services Sub-Industry index.
Plexus operates in the electronics manufacturing services industry. Headquartered in Neenah, WI, the company will be added to the S&P SmallCap 600 GICS Electronic Manufacturing Services Sub-Industry index.
KBR Inc. operates as an engineering, construction, and services company supporting the energy, petrochemicals, government services, and civil infrastructure sectors. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 GICS Construction & Engineering Sub-Industry index.
Newport supplies advanced technology products and systems to a range of industries, including scientific research, microelectronics manufacturing, aerospace and defense. Headquartered in Irvine, CA, the company will be added to the S&P SmallCap 600 GICS Electronic Equipment Manufacturers Sub-Industry index.
Following is a summary of the changes:
S&P 100 INDEX - March 30, 2007
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Kraft Foods Consumer Staples Packaged Foods & Meats
DELETED Eastman Kodak Consumer Discretionary Photographic
Products
S&P 500 INDEX - March 30, 2007
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Kraft Foods Consumer Staples Packaged Foods & Meats
DELETED Sabre Holdings Information Technology Data Processing &
Outsourced Services
S&P MIDCAP 400 INDEX - March 30, 2007
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Broadridge Information Data Processing &
Financial Technology Outsourced Services
Solutions
KBR Inc. Industrials Construction &
Engineering
DELETED Plexus Information Technology Electronic
Manufacturing
Services
Newport Information Technology Electronic Equipment
Manufacturers
S&P SMALLCAP 600 INDEX - March 30, 2007
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Plexus Information Technology Electronic
Manufacturing
Services
Newport Information Technology Electronic Equipment
Manufacturers
DELETED Wellman Materials Commodity
Chemicals
Lenox Group Consumer Discretionary Housewares &
Specialties
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
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