NEW YORK, July 17 /PRNewswire/ -- Red Hat Inc. will replace CIT Group Inc. in the S&P 500 after the close of trading on Friday, July 24. As of today's close of trading, CIT Group had a market capitalization below $275 million, ranking it 500th in the index.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Red Hat provides open source software solutions to enterprises. Headquartered in Raleigh, NC, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Systems Software Sub-Industry index.
Following is a summary of the change: S&P 500 INDEX - July 24, 2009 ------------------------------------------------------ COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ------- ---------------------- ------------------- ADDED Red Hat Information Technology Systems Software DELETED CIT Group Financials Specialized Finance About Standard & Poor's Index Services
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