AutoZone, Frontier, Thermo Electron added to S&P 500 Index; NCR and Unisource added to S&P MidCap 400 Index.NEW YORK--(BUSINESS WIRE)--Dec. 19, 1996--The Equity Services Group of Standard & Poor's will transfer Luby's Cafeterias (LUB lub - least upper bound ), Ryan's Family Steak Houses (RYAN), and Shoney's Inc. (SHN SHN Saint Helena (ISO Country code) SHN Servicio de Hidrografía Naval SHN Shorthand Note SHN Self Healing Network ) from the S&P 500 Index to the S&P SmallCap 600 Index after the close of trading on Tuesday, Dec. 31, 1996, as part of a restructuring of the Restaurants industry groups in the S&P Indexes. The three companies will be replaced in the S&P 500 Index by AutoZone Inc. (AZO), which is not in an S&P Index, and by S&P MidCap 400 components Frontier Corp. (FRO fro adv. Away; back: moving to and fro. prep. Scots From. [Middle English, probably from Old Norse fr ) and Thermo Electron Thermo Electron Corporation (TMO (NYSE)) (incorporated 1956) is a major provider of analytical instruments and services for a variety of domains. Thermo has revenues of over $2 billion, and employs 11,000 people in 30 countries. Corp. (TMO TMO T-Mobile TMO The Mac Observer (website) TMO Timeout (Hekimian) TMO Tenant Management Organisation (UK) TMO Toprak Mahsulleri Ofisi ). Frontier and Thermo Electron will be replaced in the S&P MidCap 400 Index by two companies that will be spun off by S&P 500 companies on Dec. 31. They are NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers Corp. (NCR), which is being spun off by AT&T (T), and Unisource Inc. (UWW UWW University of Wisconsin, Whitewater UWW University Without Walls ), which is being spun off by Alco Standard Corp. (ASN (1) (Autonomous System Number) A unique identifier of an autonomous system on the Internet. Of the 65 thousand ASNs available, more than 30 thousand have been assigned to ISPs and NSPs. ISPs usually have only one ASN, but NSPs may have more than one. ). The companies that will be removed from the SmallCap 600 are Flagstar Cos. (FLST FLST Fail Last ), L.A. Gear Inc. (LA) and PureTec Corp. (PURT PURT Pet Urine Removal Treatment ). Those three companies, all of which had market capitalizations of less than $50 million after the close of trading on Wednesday, Dec. 18, will not be added to another S&P Index at that time. Following is a summary of the changes to take place: -0-
S&P 500 Index
Ticker Company Added Sector Industry Group
AZO AutoZone Inc. Consumer Cyclicals Retail (Specialty)
FRO Frontier Corp. Communication Services Telephone
TMO Thermo Electron Capital Goods Manufacturing
(Diversified)
Company Deleted Sector Industry Group
LUB Luby's Cafeterias Consumer Staples Restaurants
RYAN Ryan's Family
Steak Houses Consumer Staples Restaurants
SHN Shoney's Inc. Consumer Staples Restaurants
S&P MidCap 400 Index
Ticker Company Added Sector Industry Group
NCR NCR Corp. Technology Computers (Hardware)
UWW Unisource Capital Goods Office Equipment
& Supplies
Company Deleted Sector Industry Group
FRO Frontier Corp. Communication Services Telephone
TMO Thermo Electron Capital Goods Manufacturing
(Diversified)
S&P SmallCap 600 Index
Ticker Company Added Sector Industry Group
LUB Luby's Cafeterias Consumer Staples Restaurants
RYAN Ryan's Family
Steak Houses Consumer Staples Restaurants
SHN Shoney's Inc. Consumer Staples Restaurants
Company Deleted Sector Industry Group
FLST Flagstar Cos. Consumer Staples Restaurants
LA L.A. Gear Consumer Cyclicals Footwear
PURT PureTec Capital Goods Manufacturing
(Specialized)
The Equity Services Group of Standard & Poor's, a division of the Financial Information Services See Information Systems. Group of The McGraw-Hill Companies, provides financial, economic and investment information, as well as analytical services, to the global financial community and commodity trading markets. The S&P Equity Services Group calculates and maintains the S&P 500, S&P MidCap 400, S&P SmallCap 600 and the S&P Super Composite 1500 stock price indexes, which are widely considered key barometers of stock market activity and performance benchmarks for professional money managers. More than $400 billion is currently indexed to the S&P 500. Company additions to and deletions from the S&P equity indexes do not in any way reflect an opinion on the investment merits of the company. CONTACT: Elliott Shurgin, 212/208-8709 or Albert Neubert, 212/208-8716 |
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