Dow Inc. Set to Join S&P 500 and S&P 100; Brighthouse Financial and Trex Company to Join S&P MidCap 400; Pitney Bowes and Xenia Hotels & Resorts to Join S&P SmallCap 600

NEW YORK, March 26, 2019 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P 100, S&P MidCap 400 and S&P SmallCap 600:

Dow Inc. (NYSE: DOW) will be added to the S&P 500 prior to the open of trading on Tuesday, April 2. Dow will replace Brighthouse Financial Inc. (NASD: BHF), which will be removed from the S&P 500 effective prior to the open of trading on Wednesday, April 3. On the same effective date, Brighthouse will replace Pitney Bowes Inc. (NYSE: PBI) in the S&P MidCap 400, and Pitney Bowes will replace Carbo Ceramics Inc. (NYSE: CRR) in the S&P SmallCap 600. S&P 500 and 100 constituent DowDuPont Inc. (NYSE: DWDP) is spinning off Dow in a transaction expected to be completed on April 1. Effective Wednesday, April 3, post spin-off parent DowDuPont will change its Global Industry Classification Standard (GICS) sub-industry to Specialty Chemicals, and the spin-off Dow will be classified as Commodity Chemicals. Brighthouse has a market capitalization more representative of the mid-cap market space, and Pitney Bowes has a market capitalization more representative of the small-cap market space. Carbo Ceramics is ranked near the bottom of the S&P SmallCap 600 and no longer representative of the small-cap market space.

Dow will be added to the S&P 100 prior to the open of trading on Tuesday, April 2. Dow will replace Halliburton Co. (NYSE: HAL) which will be removed from the S&P 100 effective prior to the open of trading on Wednesday, April 3. Halliburton, which will remain in the S&P 500, is no longer representative of the mega-cap market space.

S&P SmallCap 600 constituent Trex Company Inc. (NYSE: TREX) will replace Integrated Device Technology Inc. (NASD: IDTI) in the S&P MidCap 400, and Xenia Hotels & Resorts Inc. (NYSE: XHR) will replace Trex Company in the S&P SmallCap 600 effective prior to the open of trading on Monday, April 1. Renesas Electronics Corp. is acquiring Integrated Device Technology in a deal expected to be completed soon pending final conditions.

Dow is a materials science solution provider. Headquartered in Midland, MI, the company will be added to the S&P 500 GICS Commodity Chemicals Sub-Industry index.

Brighthouse Financial provides annuity and life insurance products. Headquartered in Charlotte, NC, the company will be added to the S&P MidCap 400 GICS Life & Health Insurance Sub-Industry index.

Pitney Bowes offers customer information management, location intelligence, and customer engagement products and solutions. Headquartered in Stamford, CT, the company will be added to the S&P SmallCap 600 GICS Office Services & Supplies Sub-Industry index.

Trex Company manufactures and distributes wood/plastic composite products. Headquartered in Winchester, VA, the company will be added to the S&P MidCap 400 GICS Building Products Sub-Industry index.

Xenia Hotels & Resorts is a real estate investment trust (REIT) that invests primarily in luxury and upscale hotels and resorts. Headquartered in Orlando, FL, the company will be added to the S&P SmallCap 600 GICS Hotel & Resort REITs Sub-Industry index.

FOR MORE INFORMATION:

David Blitzer

Managing Director and Chairman of the Index Committee
New York, USA
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S&P Dow Jones Indices
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SOURCE S&P Dow Jones Indices