NEW YORK, March 18 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:
-- Time Warner Cable Inc. will replace Developers Diversified Realty Corp. in the S&P 500 after the market closes on Friday, March 27. S&P 100 & 500 constituent Time Warner Inc. is spinning off its remaining interest in Time Warner Cable to its shareholders in a transaction expected to be completed on or about that date. As of today's close of trading, Developers Diversified Realty had a market capitalization below $325 million, ranking it 500th in the index. -- S&P MidCap 400 constituent O'Reilly Automotive Inc. will replace Noble Corp. in the S&P 500, S&P SmallCap 600 constituent Itron Inc. will replace O'Reilly Automotive in the S&P MidCap 400, and NBT Bancorp Inc. will replace Itron in the S&P SmallCap 600, all after the close of trading on a date to be announced. Noble is in the process of redomesticating to Switzerland, which will render it ineligible for continued inclusion in the S&P 500 index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Time Warner Cable is a cable operator. Headquartered in New York, NY, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Cable & Satellite Sub-Industry index.
O'Reilly Automotive is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment and accessories. Headquartered in Springfield, MO, the company will be added to the S&P 500 GICS Automotive Retail Sub-Industry index.
Itron provides products and services to utilities for the energy and water markets. Headquartered in Liberty Lake, WA, the company will be added to the S&P MidCap 400 GICS Electronic Equipment & Instruments Sub-Industry index.
NBT Bancorp is a financial services company. Headquartered in Norwich, NY, the company will be added to the S&P SmallCap 600 GICS Regional Banks Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - March 27, 2009 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Time Warner Consumer Discretionary Cable & Cable Satellite DELETED Developers Financials Retail REITs Diversified Realty S&P 500 INDEX - TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED O'Reilly Consumer Discretionary Automotive Retail Automotive DELETED Noble Energy Oil & Gas Drilling S&P MIDCAP 400 INDEX - TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Itron Information Technology Electronic Equipment & Instruments DELETED O'Reilly Consumer Discretionary Automotive Retail Automotive S&P SMALLCAP 600 INDEX - TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED NBT Bancorp Financials Regional Banks DELETED Itron Information Technology Electronic Equipment & Instruments About Standard & Poor's Index Services
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.
About Standard & Poor's
Standard & Poor's, a subsidiary of The McGraw-Hill Companies , is the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data. With approximately 10,000 employees, including wholly owned affiliates, located in 23 countries and markets, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com/.
