Press Releases
NEW YORK, Sept. 24, 2012 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, the S&P MidCap 400 and the S&P SmallCap 600 indices after the close of trading on Friday, September 28:
- The ADT Corp. (NYSE:ADTwi) will replace Lexmark International Inc. (NYSE:LXK) in the S&P 500, and Lexmark will replace RadioShack Corp. (NYSE:RSH) in the S&P MidCap 400. Pentair Ltd. (NYSE:PNRwi) will replace DeVry Inc. (NYSE:DV) in the S&P 500, and DeVry will replace Pentair Inc. (NYSE:PNR) in the S&P MidCap 400. S&P 500 constituent Tyco International Ltd. (NYSE:TYC) is spinning off ADT to Tyco shareholders. Tyco is simultaneously spinning off its flow control business, which will immediately merge with Pentair Inc. to form a new entity to be called Pentair Ltd. Both spin-offs are expected to be completed after the close of trading on September 28. The Tyco stub will remain in the S&P 500. Lexmark and DeVry have market capitalizations that are more representative of the mid cap market space, and RadioShack's market capitalization makes it no longer appropriate for inclusion in the S&P 1500.
- MarketAxess Holdings Inc. (NASD:MKTX) will replace Par Pharmaceutical Companies, Inc. (NYSE:PRX) in the S&P SmallCap 600. Par Pharmaceutical is being acquired by an affiliate of TPG, a private equity firm, in a transaction expected to be completed on or about September 28.
ADT is a provider of electronic security, interactive home and business automation and related monitoring services. Headquartered in Boca Raton, Florida, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Security and Alarm Services Sub-Industry index.
Pentair is a global diversified industrial company. Headquartered in Switzerland, the company will be added to the S&P 500 Industrial Machinery Sub-Industry index.
Lexmark International engages in the development, manufacture, and supply of printing, imaging, document workflow, and content management solutions. Headquartered in Lexington, KY, the company will be added to the S&P MidCap 400 Computer Storage & Peripherals Sub-Industry index.
DeVry provides educational services. Headquartered in Downers Grove, IL, the company will be added to the S&P MidCap 400 Education Services Sub-Industry index.
MarketAxess Holdings operates an electronic trading platform. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 Specialized Finance Sub-Industry index.
Following is a summary of the changes:
S&P 500 INDEX – September 28, 2012 |
|||
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
ADDED |
ADT |
Industrials |
Security & Alarm Services |
Pentair |
Industrials |
Industrial Machinery |
|
DELETED |
Lexmark |
Information Technology |
Computer Storage & Peripherals |
DeVry |
Consumer Discretionary |
Education Services |
S&P MIDCAP 400 INDEX – September 28, 2012 |
|||
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
ADDED |
Lexmark |
Information Technology |
Computer Storage & Peripherals |
DeVry |
Consumer Discretionary |
Education Services |
|
DELETED |
RadioShack |
Consumer Discretionary |
Computer & Electronics Retail |
Pentair |
Industrials |
Industrial Machinery |
S&P SMALLCAP 600 INDEX – September 28, 2012 |
|||
COMPANY |
GICS ECONOMIC SECTOR |
GICS SUB-INDUSTRY |
|
ADDED |
MarketAxess |
Financials |
Specialized Finance |
DELETED |
Par Pharmaceutical |
Health Care |
Pharmaceuticals |
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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