NEW YORK, Nov. 10 /PRNewswire-FirstCall/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:
-- Wynn Resorts Ltd. will replace Ashland Inc. in the S&P 500, Ashland will replace Lear Corp. in the S&P MidCap 400, S&P MidCap 400 constituent DENTSPLY International Inc. will replace Hercules Inc. in the S&P 500, and Bucyrus International Inc. will replace DENTSPLY in the S&P MidCap 400 after the close of trading on Thursday, November 13. Ashland is acquiring Hercules in a transaction that will result in a company with a market value appropriate for the S&P MidCap 400, and which is expected to close on or about that date, pending final approvals. As of today's close of trading Lear Corp. had a market value of approximately $129 million, ranking 400th in the S&P MidCap 400 index.
-- Eagle Materials Inc. will replace Secure Computing Corp. in the S&P SmallCap 600 after the close of trading on Friday, November 14. Secure Computing is being acquired by S&P MidCap 400 constituent McAfee Inc. 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/.
Wynn Resorts designs, develops, finances and constructs gaming projects in Las Vegas and Macau. Headquartered in Las Vegas, NV, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Casinos & Gaming Sub-Industry index.
DENTSPLY produces a broad range of products for the dental market. Headquartered in York, PA, the company will be added to the S&P 500 GICS Health Care Supplies Sub-Industry index.
Ashland is a diversified chemicals company. Headquartered in Covington, KY, the company will be added to the S&P MidCap 400 GICS Diversified Chemicals Sub-Industry index.
Bucyrus International manufactures large-scale surface and underground mining equipment used for mining coal, iron ore, copper, oil sands and other minerals. Headquartered in South Milwaukee, WI, the company will be added to the S&P MidCap 400 GICS Construction & Farm Machinery & Heavy Trucks Sub- Industry index.
Eagle Materials manufactures gypsum wallboard and cement. Headquartered in Dallas, TX, the company will be added to the S&P SmallCap 600 GICS Construction Materials Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - November 13, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Wynn Resorts Consumer Discretionary Casinos & Gaming DENTSPLY Health Care Health Care Supplies DELETED Ashland Materials Diversified Chemicals Hercules Materials Diversified Chemicals S&P MIDCAP 400 INDEX - November 13, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Ashland Materials Diversified Chemicals Bucyrus Industrials Construction & Farm International Machinery & Heavy Trucks DELETED Lear Consumer Discretionary Auto Parts & Equipment DENTSPLY Health Care Health Care Supplies S&P SMALLCAP 600 INDEX - November 14, 2008 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Eagle Materials Materials Construction Materials DELETED Secure Computing Information Technology Systems Software
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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