Standard & Poor's Announces Changes to U.S. Indices
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changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:
-- S&P MidCap 400 constituent Intuitive Surgical Inc. (Nasdaq: ISRG) will
replace The Bear Stearns Companies Inc. (NYSE: BSC) in the S&P 500, S&P
SmallCap 600 constituent The Shaw Group Inc. (NYSE: SGR) will replace
Intuitive Surgical in the S&P MidCap 400, and II-VI Inc. (Nasdaq: IIVI)
will replace The Shaw Group in the S&P SmallCap 600 after the close of
trading on Friday, May 30. Bear Stearns is being acquired by S&P 500
and S&P 100 constituent JPMorgan Chase & Co. (NYSE: JPM) in a deal
expected to close before the open of trading on June 2, pending final
approvals.
-- Olympic Steel Inc. (Nasdaq: ZEUS) will replace X-Rite Inc.
(Nasdaq: XRIT) in the S&P SmallCap 600 after the close of trading on
Tuesday, May 27. As of today's close of trading, X-Rite had a market
cap of $38 million, ranking 600th in the index.
-- Magellan Health Services Inc. (Nasdaq: MGLN) will replace Bright
Horizons Family Solutions Inc. (Nasdaq: BFAM) in the S&P SmallCap 600
on a date to be announced. Bright Horizons is being acquired by Bain
Capital Partners in a deal that is still pending final approvals.
Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: www.standardandpoors.com.
Intuitive Surgical offers the da Vinci Surgical System, which uses
advanced robotics and computerized visualization technology for minimally
invasive surgeries. Headquartered in Sunnyvale, CA, the company will be added
to the S&P 500 GICS (Global Industry Classification Standard) Health Care
Equipment Sub-Industry index.
The Shaw Group supplies industrial piping systems, mainly for the electric
power, refining and chemical industries. Headquartered in Baton Rouge, LA, the
company will be added to the S&P MidCap 400 GICS Construction & Engineering
Sub-Industry index.
II-VI offers high-technology materials and derivative products for
precision use in industrial, medical, military, security and aerospace
applications.