S&P Dow Jones Indices Announces Change to U.S. Index

Published on Tuesday, 10 July 2012 17:49 Written by TradersHuddle Staff

NEW YORK, July 10, 2012 /PRNewswire/ -- Engility Holdings Inc. (NYSE:EGLwi) will replace Savient Pharmaceuticals, Inc. (NASD:SVNT) in the S&P SmallCap 600 index after the close of trading on Tuesday, July 17. S&P 500 constituent L-3 Communications Holdings, Inc. (NYSE:LLL) is spinning off Engility to shareholders in a deal expected to be completed on or about that date pending final approvals. L-3 Communications will remain in the S&P 500 index following the spin-off. Savient Pharmaceuticals has a market cap below $40 million and is no longer representative of the small cap market space.

Engility is a provider of systems engineering services, training, program management, and operational support for the U.S. Government. Headquartered in Billerica, MA, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Aerospace & Defense Sub-Industry index.

Following is a summary of the change:

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500^® and the Dow Jones Industrial Average^(SM), S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of institutional and retail investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of assets classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.

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For more information:

Dave Guarino

Communications

S&P Dow Jones Indices

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212-438-1471

David Blitzer

Managing Director and Chairman of the Index Committee

S&P Dow Jones Indices

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212-438-3907

SOURCE S&P Dow Jones Indices