S&P will make the following changes to the S&P 500, S&P MidCap 400 and SmallCap 600 Indices after the close of trading on Friday, December 18:
Mead Johnson Nutrition Co. (MJN) will replace MBIA Corp. (MBI) in the S&P 500. S&P 100 & 500 constituent Bristol-Myers Squibb (BMY) is splitting off its approximately 83% holdings in Mead Johnson Nutrition in an exchange offer expected to be completed on or about that date, pending final approvals. MBIA currently ranks 500th in the index and is no longer representative of the S&P 500 index market cap space.
Visa Inc. (V) will replace Ciena Corp. (CIEN) in the S&P 500, Ciena will replace Blyth Inc. (BTH) in the S&P MidCap 400, and Blyth will replace C&D Technologies Inc. (CHP) in the S&P SmallCap 600. C&D currently ranks 600th in the S&P SmallCap 600 index and is no longer representative of the S&P SmallCap 600 index market cap space.
Three S&P 500 constituents will switch places with three S&P MidCap 400 constituents, and three S&P MidCap 400 constituents will switch places with three S&P SmallCap 600 constituents. These transfers will make each index more representative of its market capitalization range; the companies moving to the S&P 500 all have market caps above $5 billion, the companies moving to the S&P MidCap 400 all have market caps between $1 billion and $3 billion, and the companies moving to the S&P SmallCap 600 all have market caps below $500 million. The transfers will be as follows:
S&P MidCap 400 constituents Ross Stores Inc. (ROST), Cliffs Natural Resources Inc. (CLF) and SAIC Inc. (SAI) will replace Dynegy Inc. (DYN), KB Home Inc. (KBH) and Convergys Corp. (CVG) in the S&P 500, and, likewise, Dynegy, KB Home and Convergys will replace Ross Stores, Cliffs Natural Resources and SAIC in the S&P MidCap 400 index.
S&P SmallCap 600 constituents Senior Housing Properties Trust (SNH), Green Mountain Coffee Roasters Inc. (GMCR) and Atwood Oceanics Inc. (ATW) will replace Dycom Industries Inc. (DY), Kelly Services Inc. (KELYA) and Callaway Golf Co. (ELY) in the S&P MidCap 400, and likewise, Dycom, Kelly Services and Callaway Golf will replace Senior Housing Properties, Green Mountain Coffee Roasters and Atwood Oceanics in the S&P SmallCap 600 index.
Tables: S&P
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