NEW YORK, Oct. 28 /PRNewswire/ -- S&P MidCap 400 constituent Wisconsin Energy Corp. will replace MGIC Investment Corp. in the S&P 500, S&P SmallCap 600 constituent Unit Corp. will replace Wisconsin Energy in the S&P MidCap 400, and Cal-Maine Foods Inc. will replace Unit in the S&P SmallCap 600, all after the close of trading on Thursday, October 30. As of today's close, MGIC Investment had a market capitalization of approximately $266 million, ranking it 500th in the index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Wisconsin Energy provides electric and natural gas services. Headquartered in Milwaukee, WI, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Multi-Utilities Sub-Industry index.
Unit operates as a contract drilling company. Headquartered in Tulsa, OK, the company will be added to the S&P MidCap 400 GICS Oil & Gas Drilling Sub-Industry index.
Cal-Maine Foods engages in the production, grading, packaging, marketing, and distribution of shell eggs. Headquartered in Jackson, MS, the company will be added to the S&P SmallCap 600 GICS Packaged Foods & Meats Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - October 30, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Wisconsin Energy Utilities Multi-Utilities DELETED MGIC Investment Financials Thrifts & Mortgage Finance S&P MIDCAP 400 INDEX - October 30, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Unit Energy Oil & Gas Drilling DELETED Wisconsin Energy Utilities Multi-Utilities S&P SMALLCAP 600 INDEX - October 30, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Cal-Maine Foods Consumer Staples Packaged Foods & Meats DELETED Unit Energy Oil & Gas Drilling
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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