NEW YORK, Aug. 13 /PRNewswire/ -- Standard & Poor's will make the
following changes to the S&P 500 and S&P SmallCap 600 indices:
-- Invesco Ltd. (NYSE: IVZ) will replace IAC/InterActiveCorp.
(Nasdaq: IACI) in the S&P 500, HSN Inc. (Nasdaq when-issued: HSNIV) will
replace Tronox Inc. (NYSE: TRX.B) in the S&P SmallCap 600, Interval Leisure
Group Inc. (Nasdaq when-issued: IILGV) will replace Downey Financial Corp.
(NYSE: DSL) in the S&P SmallCap 600, and Ticketmaster (Nasdaq when-issued:
TKTMV) will replace Ditech Networks Inc. (Nasdaq: DITC) in the S&P SmallCap
600 after the close of trading on Wednesday, August 20. IAC/InterActive is
spinning off the businesses of HSN, Interval Leisure Group and Ticketmaster in
a transaction expected to be completed after the close of trading on that
date. As of today's close of trading, Tronox, Downey Financial and Ditech
Networks all had market capitalizations well below the S&P SmallCap 600's
target range.
-- The Buckle Inc. (NYSE: BKE) will replace W-H Energy Services Inc.
(NYSE: WHQ) in the S&P SmallCap 600 after the close of trading on Tuesday,
August 19. W-H Energy is being acquired by S&P 500 constituent Smith
International Inc. (NYSE: SII) in a transaction expected to be completed on or
about that date, pending final approvals.
-- Stepan Co. (NYSE: SCL) will replace Building Materials Holding Corp.
(NYSE: BLG) in the S&P SmallCap 600 after the close of trading on Tuesday,
August 19. As of today's close of trading Building Materials had a market
capitalization of approximately $51 million, whereas the minimum market cap a
company must maintain in order to be eligible for addition to the index is
$300 million.
Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: www.standardandpoors.com.
Invesco is an investment management company. Headquartered in Atlanta,
GA, the company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Asset Management & Custody Banks Sub-Industry index.
HSN offers products through television home shopping programming on the
HSN television network and HSN.com. Headquartered in St. Petersburg, FL, the
company will be added to the S&P SmallCap 600 GICS Catalog Retail Sub-Industry
index.
Interval Leisure Group provides membership services to the vacation
ownership industry.
