NEW YORK, April 24, 2014 /PRNewswire/ -- S&P Dow Jones Indices 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 April 30:

• Navient Corp. (NASD: NAVIV) will replace SLM Corp. (NASD: SLM) in the S&P 500, and SLM will replace Alpha Natural Resources Inc. (NYSE: ANR) in the S&P MidCap 400. SLM Corp. is spinning off Navient to shareholders in a transaction expected to be completed after the close of trading on April 30. Post spin, it is anticipated that SLM will have a market capitalization more representative of the mid-cap market space. Alpha Natural Resources is ranked #400 in the S&P MidCap 400 and is no longer appropriate for that index.
• S&P MidCap 400 constituent Under Armour Inc. (NYSE: UA) will replace Beam Inc. (NYSE: BEAM) in the S&P 500, S&P SmallCap 600 constituent PolyOne Corp. (NYSE: POL) will replace Under Armour in the S&P MidCap 400, and Aceto Corp. (NASD: ACET) will replace PolyOne in the S&P SmallCap 600. Suntory Holdings is acquiring Beam in a deal expected to be completed on or about April 30. Under Armour and PolyOne have market capitalizations more representative of the large-cap and mid-cap market spaces respectively.

Navient operates a loan management, servicing and asset recovery business. Headquartered in Newark, DE, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Consumer Finance Sub-Industry index.

SLM is a financial services company specializing in education. Headquartered in Newark, DE, the company will be added to the S&P MidCap 400 GICS Consumer Finance Sub-Industry index.

Under Armour develops, markets, and distributes branded performance apparel, footwear, and accessories. Headquartered in Baltimore, MD, the company will be added to the S&P 500 GICS Apparel, Accessories & Luxury Goods Sub-Industry index.

PolyOne provides specialized polymer materials, services, and solutions. Headquartered in Avon Lake, OH, the company will be added to the S&P MidCap 400 GICS Specialty Chemicals Sub-Industry index.

Aceto engages in the marketing, sale and distribution of products for human health, pharmaceutical ingredients and performance chemicals. Headquartered in Port Washington, NY, the company will be added to the S&P SmallCap 600 GICS Trading Companies & Distributors Sub-Industry index.

Following is a summary of the changes:

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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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 1,000,000 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.  

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For more information:

David Blitzer 
Managing Director and Chairman of the Index Committee 
S&P Dow Jones Indices 
(212) 438 3907 
david.blitzer@spdji.com 

David R. Guarino 
Communications 
S&P Dow Jones Indices 
(212) 438 1471 
dave.guarino@spdji.com  

SOURCE S&P Dow Jones Indices