NEW YORK, July 30 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:
-- Priceline.com Inc. will replace KEMET Corp. in the S&P MidCap 400 after the close of trading on Friday, August 1. As of today's close of trading KEMET had a market capitalization of approximately $144 million, ranking 400th in the index.
-- S&P SmallCap 600 constituent Ralcorp Holdings Inc. will replace Par Pharmaceutical Companies Inc. in the S&P MidCap 400, and Par Pharmaceutical will replace Ralcorp in the S&P SmallCap 600 after the close of trading on Monday, August 4. Ralcorp is merging with the Post Cereal assets of S&P 100 and S&P 500 constituent Kraft Foods Inc. in a transaction scheduled to be effected on or about that date, pending final approvals. Par Pharmaceutical's market capitalization makes it an appropriate fit for the S&P SmallCap 600.
-- S&P REIT Composite constituent Cedar Shopping Centers Inc. will replace Angelica Corp. in the S&P SmallCap 600 after the close of trading on Monday, August 4. Angelica is being acquired by an affiliate of S&P 100 and S&P 500 constituent Lehman Brothers Holdings Inc. in a transaction expected to close on that date.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Priceline.com provides online travel services. Headquartered in Norwalk, CT, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Internet Retail Sub-Industry index.
Ralcorp Holdings produces foods sold under the individual labels of various grocery, mass merchandise and drug store retailers. Headquartered in Saint Louis, MO, the company will be added to the S&P MidCap 400 GICS Packaged Foods & Meats Sub-Industry index.
Par Pharmaceutical is a generic drug producer. Headquartered in Woodcliff Lake, NJ, the company will be added to the S&P SmallCap 600 GICS Pharmaceuticals Sub-Industry index.
Cedar Shopping Centers is a REIT specializing in supermarket-anchored community shopping centers and drug store-anchored convenience centers. Headquartered in Port Washington, NY, the company will be added to the S&P SmallCap 600 GICS Retail REITs Sub-Industry index.
Following is a summary of the changes: S&P MIDCAP 400 INDEX - August 1, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Priceline.com Consumer Discretionary Internet Retail DELETED KEMET Information Technology Electronic Manufacturing Services S&P MIDCAP 400 INDEX - August 4, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Ralcorp Holdings Consumer Staples Packaged Foods & Meats DELETED Par Pharmaceutical Health Care Pharmaceuticals S&P SMALLCAP 600 INDEX - August 4, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Par Pharmaceutical Health Care Pharmaceuticals DELETED Ralcorp Holdings Consumer Staples Packaged Foods & Meats S&P SMALLCAP 600 INDEX - August 4, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Cedar Shopping Financials Retail REITs Centers DELETED Angelica Industrials Diversified Commercial & Professional 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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Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit http://www.standardandpoors.com/indices.
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