NEW YORK, Nov. 25, 2013 /PRNewswire/ --Ligand Pharmaceuticals Inc. (NASD: LGND) will replace SHFL Entertainment Inc. (NASD: SHFL) in the S&P SmallCap 600 after the close of trading on Wednesday, November 27. S&P MidCap 400 constituent Bally Technologies Inc. (NYSE: BYI) acquired SHFL in a deal completed today.
Ligand Pharmaceuticals is a biotechnology company that engages in the acquisition and development of royalty revenue generating assets. Headquartered in La Jolla, CA, the company will be added to the S&P SmallCap 600 GICS Biotechnology Sub-Industry index.
Following is a summary of the change:
S&P SMALLCAP 600 INDEX - November 27, 2013 | |||
COMPANY | GICS ECONOMIC SECTOR | GICS SUB-INDUSTRY | |
ADDED | Ligand Pharmaceuticals | Health Care | Biotechnology |
DELETED | SHFL Entertainment | Consumer Discretionary | Casinos & Gaming |
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.
About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average', S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.
Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.
For more information:
Dave Guarino
Communications
S&P Dow Jones Indices
dave.guarino@spdji.com
(212) 438-1471
David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
david.blitzer@ spdji.com
(212) 438-3907
SOURCE S&P Dow Jones Indices
