S&P Indices Announces Changes to U.S. Indices

Published on Thursday, 10 May 2012 18:13 Written by TradersHuddle Staff

NEW YORK, May 10, 2012 /PRNewswire/ -- S&P Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices:

• S&P MidCap 400 constituent Lam Research Corp. (NASD: LRCX) will replace Novellus Systems, Inc. (NASD: NVLS) in the S&P 500 index and Royal Gold, Inc. (NASD: RGLD) will replace Lam Research in the S&P MidCap 400 index after the close of trading on a date to be announced. Lam Research is acquiring Novellus in a deal expected to be completed soon pending final approvals.
• Tempur-Pedic International Inc. (NYSE: TPX) will replace Thomas & Betts Corp. (NYSE: TNB) in the S&P MidCap 400 index after the close of trading on Tuesday, May 15.  Thomas & Betts is being acquired by ABB Ltd. in a deal expected to be completed soon pending final approvals.
• Globe Specialty Metals, Inc. (NASD: GSM) will replace Delphi Financial Group, Inc. (NYSE: DFG) in the S&P Small 600 index after the close of trading on Tuesday, May 15. Tokio Marine Holdings Inc. is acquiring Delphi Financial in a deal expected to be completed on or about that date pending final approvals.

Lam Research is a supplier of wafer fabrication equipment and services. Headquartered in Fremont, CA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Semiconductor Equipment Sub-Industry index.

Royal Gold engages in the acquisition and management of precious metal royalties. Headquartered in Denver, CO, the company will be added to the S&P MidCap 400 GICS Gold Sub-Industry index.

Tempur-Pedic International engages in the manufacture, marketing, and distribution of bedding products. Headquartered in Lexington, KY, the company will be added to the S&P MidCap 400 Home Furnishings Sub-Industry index.

Globe Specialty Metals produces silicon metal and silicon-based specialty alloys. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Diversified Metals & Mining Sub-Industry index.

Following is a summary of the changes:

About S&P Indices

S&P Indices, a leading brand of the McGraw-Hill Companies (NYSE: MHP), maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Over $1.45 trillion is directly indexed to our indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit: www.standardandpoors.com/indices.

It is not possible to invest directly in an index. S&P Indices does not sponsor, endorse, sell, or promote any S&P index-based investment product. This document does not constitute an offer of services in jurisdictions where S&P Indices or its affiliates do not have the necessary licenses. S&P Indices receives compensation in connection with licensing its indices to third parties.

For more information:

Dave Guarino

Communications

S&P Indices

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212-438-1471

David Blitzer

Managing Director and Chairman of the Index Committee

S&P Indices

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212-438-3908

SOURCE S&P Indices