NEW YORK, Aug. 20 /PRNewswire/ -- 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 Cleveland-Cliffs Inc. will
replace Ohio Casualty Corp. (NASD: OCAS) in the S&P MidCap 400 and
Phase Forward Inc. (NASD: PFWD) will replace Cleveland-Cliffs in the
S&P SmallCap 600 after the close of trading on a date to be announced.
Ohio Casualty is being acquired by Liberty Mutual Group in a deal that
is still pending final approvals.
-- Zumiez, Inc. (NASD: ZUMZ) will replace CT Communications Inc.
(NASD: CTCI) in the S&P SmallCap 600 after the close of trading on a
date to be announced. CT Communications is being acquired by S&P 500
constituent Windstream Corp. in a deal that is still
pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Cleveland Cliffs engages in the production and sale of iron ore pellets to integrated steel companies. Headquartered in Cleveland, OH, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Steel Sub-Industry index.
Phase Forward provides integrated enterprise-level software products, services, and hosted solutions for use in clinical trial and drug safety monitoring activities. Headquartered in Waltham, MA, the company will be added to the S&P SmallCap 600 GICS Health Care Technology Sub-Industry index.
Zumiez, a mall-based specialty retailer, provides action sports-related apparel, footwear, equipment, and accessories. Headquartered in Everett, WA, the company will be added to the S&P SmallCap 600 GICS Apparel Retail Sub- Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Cleveland-Cliffs Materials Steel
DELETED Ohio Casualty Financials Property & Casualty
Insurance
S&P SMALLCAP 600 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Phase Forward Health Care Health Care Technology
DELETED Cleveland-Cliffs Materials Steel
S&P SMALLCAP 600 INDEX - To Be Announced
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Zumiez Consumer Discretionary Apparel Retail
DELETED CT Communications Telecommunication Integrated
Services Telecommunication
Services
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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