NEW YORK, March 25 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Wednesday, April 1:
-- S&P MidCap 400 constituent Denbury Resources Inc. will replace Rohm and Haas Co. in the S&P 500, and Corporate Office Properties Trust will replace Denbury Resources in the S&P MidCap 400. S&P 100 & 500 constituent The Dow Chemical Corp. is acquiring Rohm and Hass in a transaction expected to be completed on or about that date. -- S&P SmallCap 600 constituent Cleco Corp. will replace Belo Corp. in the S&P MidCap 400, and Pinnacle Financial Partners Inc. will replace Cleco in the S&P SmallCap 600. As of today's close of trading Belo had a market capitalization of $81 million, ranking it 400th in the index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Denbury Resources is engaged in the acquisition, development, operation and exploration of oil and natural gas properties. Headquartered in Plano, TX, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Oil & Gas Exploration & Production Sub-Industry index.
Corporate Office Properties is a specialty office real estate investment trust (REIT). Headquartered in Columbia, MD, the company will be added to the S&P MidCap 400 GICS Office REITs Sub-Industry index.
Cleco is a public utility company. Headquartered in Pineville, LA, the company will be added to the S&P MidCap 400 GICS Electric Utilities Sub-Industry index.
Pinnacle Financial operates as a community bank primarily in urban markets. Headquartered in Nashville, TN, 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 - April 1, 2009 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Denbury Energy Oil & Gas Exploration & Resources Production DELETED Rohm and Materials Diversified Chemicals Haas S&P MIDCAP 400 INDEX - April 1, 2009 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Corporate Financials Office REITs Office Properties Cleco Utilities Electric Utilities DELETED Denbury Energy Oil & Gas Exploration & Resources Production Belo Corp. Consumer Discretionary Broadcasting S&P SMALLCAP 600 INDEX - April 1, 2009 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Pinnacle Financials Regional Banks Financial DELETED Cleco Utilities Electric Utilities 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/.
