NEW YORK, Oct. 30, 2013 /PRNewswire/ --S&P SmallCap 600 constituent A.O. Smith Corp. (NYSE: AOS) will replace Saks Inc. (NYSE: SKS) in the S&P MidCap 400, and FutureFuel Corp. (NYSE: FF) will replace A.O. Smith in the S&P SmallCap 600 after the close of trading on Monday, November 4. Hudson's Bay Co. is acquiring Saks in a deal expected to be completed on or about that date pending final conditions.
S&P Dow Jones Indices will delay the addition of Michael Kors Holdings Limited (NYSE: KORS) to the S&P 500 from after the close of trading on Friday, November 1 to a date to be announced. IntercontinentalExchange (NYSE: ICE) and NYSE Euronext (NYSE: NYX) have postponed the closing date of their previously announced merger transaction from November 4, 2013 to a later date to be announced to allow additional time for relevant European regulators and ministries to process and issue their approvals. NYSE Euronext will remain in the S&P 500 until a new date is announced.
A. O. Smith engages in the manufacture and sale of water heaters and boilers to the residential and commercial markets. Headquartered in Milwaukee, WI, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Building Products Sub-Industry index.
FutureFuel Corp. engages in the manufacture and sale of diversified chemicals, biofuels, and biobased specialty chemicals. Headquartered in Clayton, MO, the company will be added to the S&P SmallCap 600 GICS Specialty Chemicals Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX - November 4, 2013 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | A.O. Smith | Industrials | Building Products |
DELETED | Saks | Consumer Discretionary | Department Stores |
S&P SMALLCAP 600 INDEX - November 4, 2013 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | FutureFuel | Materials | Specialty Chemicals |
DELETED | A.O. Smith | Industrials | Building Products |
Additions to and deletions from S&P Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.
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