NEW YORK, April 15 /PRNewswire/ -- S&P 500 constituent National Oilwell Varco Inc. will replace S&P 500 constituent Rockwell Automation Inc. in the S&P 100, and Affiliated Managers Group Inc. will replace Grant Prideco Inc. in the S&P MidCap 400 after the close of trading on Monday, April 21. Grant Prideco is being acquired by National Oilwell Varco in a transaction expected to close on or about that date pending final approvals. Rockwell Automation will remain in the S&P 500.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
National Oilwell Varco, headquartered in Houston, TX, engages in the design, construction, manufacture, and sale of systems, components, and products to the oil and gas industry worldwide.
Affiliated Managers Group provides investment management services to mutual funds, institutional clients, and high net worth individuals. Headquartered in Prides Crossing, MA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Asset Management & Custody Banks Sub-Industry index.
Following is a summary of the changes: S&P 100 INDEX - April 21, 2008 GICS ECONOMIC COMPANY SECTOR GICS SUB-INDUSTRY ADDED National Oilwell Varco Energy Oil & Gas Equipment & Services DELETED Rockwell Automation Industrials Electrical Components & Equipment S&P MIDCAP 400 INDEX - April 21, 2008 GICS ECONOMIC COMPANY SECTOR GICS SUB-INDUSTRY ADDED Affiliated Managers Financials Asset Management & Group Custody Banks DELETED Grant Prideco Energy Oil & Gas Equipment & 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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