Standard & Poor's Announces Changes to U.S. Indices
May 25 2006 - 7:12PM
PR Newswire (US)
NEW YORK, May 25 /PRNewswire/ -- Standard & Poor's will make
the following changes to the S&P 500, S&P MidCap 400 and
S&P SmallCap 600 indices: * Juniper Networks Inc. (NASDAQ:JNPR)
will replace Albertson's Inc. (NYSE:ABS) in the S&P 500 after
the close of trading on a date to be announced. Albertson's is
being acquired by S&P 500 constituents Supervalu Inc.
(NYSE:SVU) and CVS Corp. (NYSE:CVS) in a deal that is still pending
final approvals. * S&P SmallCap 600 constituent Commercial
Metals Co. (NYSE:CMC) will replace Independence Community Bank
Corp. (NASDAQ:ICBC) in the S&P MidCap 400 after the close of
trading on a date to be announced. Independence Community is being
acquired by S&P 500 constituent Sovereign Bancorp Inc.
(NYSE:SOV) in a deal that is still pending final approval. Bankrate
Inc. (NASDAQ:RATE) will replace Commercial Metals in the S&P
SmallCap 600. * Lincoln Electric Holdings Inc. (NASDAQ:LECO) will
replace Education Management Corp. (NASDAQ:EDMC) in the S&P
MidCap 400 after the close of trading on a date to be announced.
Education Management is being taken private by a group of investors
led by Providence Equity Partners and Goldman Sachs Capital
Partners in a deal still subject to certain closing conditions.
Lincoln Electric was originally announced as a replacement for
S&P MidCap 400 constituent Anteon International Corp.
(NYSE:ANT), whose acquisition by S&P 100 and S&P 500
constituent General Dynamics Corp. (NYSE:GD) is still pending
regulatory approval. A replacement for Anteon will be announced
when the completion of that deal seems clearer. * First Indiana
Corp. (NASDAQ:FINB) will replace Sourcecorp Inc. (NASDAQ:SRCP) in
the S&P SmallCap 600 after the close of trading on Thursday,
June 1, 2006. Sourcecorp is being acquired by entities affiliated
with Apollo Management in a deal expected to close on or about that
date, pending final approval. Standard & Poor's will monitor
these transactions, and post any relevant updates on its website:
http://www.standardandpoors.com/. Juniper Networks provides
Internet Protocol networking products and services, with a specific
emphasis on telecom routing solutions. Headquartered in Sunnyvale,
CA, the company will be added to the S&P 500 GICS (Global
Industry Classification Standard) Communications Equipment Sub-
Industry index. Commercial Metals manufactures, recycles and
markets steel, metal products and other materials, and provides
related services. Headquartered in Irving, TX, the company will be
added to the S&P MidCap 400 GICS Steel Sub-Industry index.
Bankrate owns and operates an Internet-based consumer banking
marketplace. Headquartered in North Palm Beach, FL, the company
will be added to the S&P SmallCap 600 GICS Internet Software
& Services Sub-Industry index. Lincoln Electric manufactures
arc welding products, robotic welding systems, plasma and oxyfuel
cutting equipment. Headquartered in Cleveland, OH, the company will
be added to the S&P MidCap 400 GICS Industrial Machinery
Sub-Industry index. First Indiana has banking offices in central
Indiana, and also originates home equity loans in 44 states.
Headquartered in Indianapolis, IN, the company will be added to the
S&P SmallCap 600 GICS Regional Banks Sub-Industry index.
Following is a summary of the changes: S&P 500 INDEX - TBA
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Juniper
Networks Information Communications Technology Equipment DELETED
Albertson's Consumer Staples Food Retail S&P MIDCAP 400 INDEX -
TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Commercial
Metals Materials Steel Lincoln Electric Industrials Industrial
Machinery DELETED Independence Financials Thrifts & Community
Mortgage Finance Education Consumer Education Services Management
Discretionary S&P SMALLCAP 600 INDEX - TBA COMPANY GICS
ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Bankrate Information
Technology Internet Software & Services DELETED Commercial
Metals Materials Steel S&P SMALLCAP 600 INDEX - June 1, 2006
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED First Indiana
Financials Regional Banks DELETED Sourcecorp Industrials
Diversified Commercial & Professional Services Additions to and
deletions from an S&P equity index do not in any way reflect an
opinion on the investment merits of the companies concerned. About
Standard & Poor's Standard & Poor's, a division of The
McGraw-Hill Companies (NYSE:MHP), is the world's foremost provider
of independent credit ratings, indices, risk evaluation, investment
research and data. With approximately 6,300 employees located in 21
countries and markets, Standard & Poor's is an essential part
of the world's financial infrastructure and has played a leading
role for more than 140 years in providing investors with the
independent benchmarks they need to feel more confident about their
investment and financial decisions. For more information, visit
http://www.standardandpoors.com/. About The McGraw-Hill Companies
Founded in 1888, The McGraw-Hill Companies is a leading global
information services provider meeting worldwide needs in the
financial services, education and business information markets
through leading brands such as Standard & Poor's, McGraw-Hill
Education, BusinessWeek and J.D. Power and Associates. The
Corporation has more than 290 offices in 38 countries. Sales in
2005 were $6.0 billion. Additional information is available at
http://www.mcgraw-hill.com/. DATASOURCE: Standard & Poor's
CONTACT: David M. Blitzer, Ph.D. Managing Director & Chairman
of the Index Committee 212 438-3907 Web site:
http://www.standardandpoors.com/
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