NEW YORK, Dec. 22, 2010 /PRNewswire/ -- S&P 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 Monday, January 3, 2011:
Motorola Mobility Holdings Inc. will replace Meredith Corp. in the S&P 500 index, Meredith will replace Cincinnati Bell Inc. in the S&P MidCap 400 index, and Cincinnati Bell will replace Penford Corp. (NASD: PENX) in the S&P SmallCap 600 index. S&P 500 constituent Motorola is spinning off Motorola Mobility Holdings to its shareholders in a transaction expected to be completed after the market close on or about that date. The Motorola stub will remain in the S&P 500 index following the spin-off. Meredith's $1.6 billion market capitalization, and Cincinnati Bell's $480 million market capitalization, make these two companies more representative of the mid cap and small cap space, respectively. Penford, with a market capitalization of less than $80 million, ranks 600th in the S&P Small Cap 600 index.
Standard & Poor's will monitor this transaction, and post any relevant updates on its website: http://www.standardandpoors.com/.
Motorola Mobility Holdings provides technologies, products, and services that enable mobile and wireline, digital communication, information, and entertainment experiences. Headquartered in Libertyville, IL, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Communications Equipment Sub-Industry index.
Meredith is a media and marketing company. Headquartered in Des Moines, IA, the company will be added to the S&P MidCap 400 GICS Publishing Sub-Industry index.
Cincinnati Bell provides data and voice communications services. Headquartered in Cincinnati, OH, the company will be added to the S&P SmallCap 600 GICS Integrated Telecommunication Services Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - January 3, 2011 GICS ECONOMIC GICS SUB- COMPANY SECTOR INDUSTRY Motorola Information Communications ADDED Mobility Technology Equipment Consumer DELETED Meredith Discretionary Publishing S&P MIDCAP 400 INDEX - January 3, 2011 GICS ECONOMIC GICS SUB- COMPANY SECTOR INDUSTRY Consumer ADDED Meredith Discretionary Publishing Integrated Cincinnati Telecommunication Telecommunication DELETED Bell Services Services S&P SMALLCAP 600 INDEX - January 3, 2011 GICS ECONOMIC GICS SUB- COMPANY SECTOR INDUSTRY Integrated Cincinnati Telecommunication Telecommunication ADDED Bell Services Services Penford Diversified DELETED Corp. Materials Chemicals
For more information about S&P Indices, please visit http://www.standardandpoors.com/indices.
About S&P Indices
S&P Indices, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit http://www.standardandpoors.com/indices.
For more information contact: David M. Blitzer, Ph.D. Managing Director & Chairman of the Index Committee (212) 438-3907
Standard & Poor's
CONTACT: David M. Blitzer, Ph.D., Managing Director & Chairman of the
Index Committee, +1-212- 438-3907
Web Site: http://www.standardandpoors.com/
