NEW YORK, Nov. 1 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices:
-- S&P MidCap 400 constituent Pepco Holdings Inc. will replace Manor Care Inc. in the S&P 500, S&P SmallCap 600 constituent Energen Corp. will replace Pepco in the S&P MidCap 400 and S&P REIT Composite constituent DiamondRock Hospitality Co. will replace Energen in the S&P SmallCap 600 after the close of trading on Wednesday, November 7. Manor Care is being acquired by The Carlyle Group in a deal expected to close on or about that date, pending final approvals. -- Kinetic Concepts Inc. will replace Pogo Producing Co. in the S&P MidCap 400 after the close of trading on Tuesday, November 6. Pogo is being acquired by S&P MidCap 400 constituent Plains Exploration & Production Co. in a deal expected to close 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/.
Pepco operates as a diversified energy company in the United States. Headquartered in Washington, DC, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Electric Utilities Sub-Industry index.
Energen engages in the acquisition, development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. Headquartered in Birmingham, AL, the company will be added to the S&P MidCap 400 GICS Gas Utilities Sub-Industry index.
Kinetic Concepts engages in the design, manufacture, marketing, and service of wound care and therapeutic products. Headquartered in San Antonio, TX, the company will be added to the S&P MidCap 400 GICS Health Care Equipment Sub-Industry index.
DiamondRock Hospitality is a REIT that owns and operates upper upscale hotels and resorts. Headquartered in Bethesda, MD, the company will be added to the S&P SmallCap 600 GICS Specialized REITs Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - November 7, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Pepco Holdings Utilities Electric Utilities DELETED Manor Care Health Care Health Care Facilities S&P MIDCAP 400 INDEX - November 6, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Kinetic Concepts Health Care Health Care Equipment DELETED Pogo Producing Energy Oil & Gas Exploration & Production S&P MIDCAP 400 INDEX - November 7, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED Energen Utilities Gas Utilities DELETED Pepco Holdings Utilities Electric Utilities S&P SMALLCAP 600 INDEX - November 7, 2007 COMPANY GICS ECONOMIC GICS SUB-INDUSTRY SECTOR ADDED DiamondRock Financials Specialized REITs Hospitality DELETED Energen Utilities Gas Utilities
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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