NEW YORK, Sept. 26 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:
-- Washington Mutual Inc. will be removed from the S&P 500 index after the close of trading on Monday, September 29. Washington Mutual Bank was closed by the Office of Thrift Supervision and the Federal Deposit Insurance Corporation (FDIC) was named receiver. S&P 100 and 500 constituent JPMorgan Chase acquired the banking operations of Washington Mutual Bank in a transaction facilitated by the FDIC.
Washington Mutual's place in the S&P 500 will be taken by S&P MidCap 400 constituent Flowserve Corp. , Flowserve will be replaced by S&P SmallCap 600 constituent UGI Corp. , and UGI Corp. will be replaced by Taleo Corp. , all after the close of trading on Wednesday, October 1.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Flowserve is a manufacturer and aftermarket service provider of flow control systems. Headquartered in Irving, TX, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Industrial Machinery Sub-Industry index.
UGI distributes and markets energy products and related services. Headquartered in King of Prussia, PA, the company will be added to the S&P MidCap 400 GICS Gas Utilities Sub-Industry index.
Taleo is a provider of talent management software solutions. Headquartered in Dublin, CA, the company will be added to the S&P SmallCap 600 GICS Application Software Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - September 29, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY DELETED Washington Mutual Financials Thrifts & Mortgage Finance S&P 500 INDEX - October 1, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Flowserve Industrials Industrial Machinery S&P MIDCAP 400 INDEX - October 1, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED UGI Utilities Gas Utilities DELETED Flowserve Industrials Industrial Machinery S&P SMALLCAP 600 INDEX - October 1, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Taleo Information Application Technology Software DELETED UGI 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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