Standard & Poor's Announces Changes In S&P Indexes.NEW YORK--(BUSINESS WIRE)--Aug. 26, 1998--Standard & Poor's Financial Information Services See Information Systems. will make the following changes in the S&P 500, S&P MidCap 400 and S&P SmallCap 600 Indexes: -- Provident Companies, Inc. (PVT), an S&P MidCap 400 component, will replace Bay Networks (BAY) in the S&P 500 Index. Bay Networks is being acquired by S&P 500 component Northern Telecom (NT). Shareholders of Bay Networks are scheduled to vote on the transaction Friday, August 28 and the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. is expected to delist Bay Networks prior to the opening of trading on August 31, 1998. Microchip Technology MCHP Microchip Technologies (stock symbol) MCHP Micro-sized Combined Heat and Power (American Honda Motor Co. & Climate Energy, LLC) MCHP Maine Community Heritage Project ), an S&P SmallCap 600 component, will replace Provident Cos. in the S&P MidCap 400 Index. MAF MAF macrophage activating factor. Bancorp (MAFB MAFB Minot Air Force Base (North Dakota) MAFB Malmstrom Air Force Base (Montana) MAFB Maxwell Air Force Base (Alabama) MAFB McGuire Air Force Base ) will replace Microchip Technology in the S&P SmallCap 600 Index. -- Lincare Holdings (LNCR LNCR Lincare Holdings (stock symbol) LNCR Least Normalized Cost Replacement ), an S&P SmallCap 600 component, will replace Camco International (CAM) in the S&P MidCap 400 Index. Camco is being acquired by S&P 500 component, Schlumberger Ltd. (SLB SLB Solomon Islands (ISO Country code) SLB Schlumberger Ltd. (oil field services firm) SLB Server Load Balancing SLB Sport Lisboa e Benfica (soccer) ). Camco shareholders are scheduled to vote on the transaction on Monday, August 31, and the merger is anticipated to close on that date. Anchor Bancorp Wisconsin (ABCW ABCW American Baptist Churches of the West ABCW Atomic Biological Chemical Warfare ) will replace Lincare Holdings in the S&P SmallCap 600 Index. -- Reliance Steel & Aluminum (RS) will replace Broderbund Software (BROD BROD Big Bike Riders of Dagupan (Motorcycle Club in the Philippines) ) in the S&P SmallCap 600 Index. Broderbund Software is being acquired by The Learning Company, Inc. (TLC--not in an S&P Index) for stock. Shareholders for both companies are scheduled to vote on the transaction Monday, August 31, and the merger is anticipated to close on that date. The Learning Company will not be added to an S&P Index at this time. Provident Cos. provides disability insurance and related products for individual and corporate customers. The company, headquartered in Chattanooga, Tennessee, will be added to the S&P 500 Insurance (Life/Health) industry group. Microchip Technology develops, manufactures and markets field-programmable 8-bit RISC RISC in full Reduced Instruction Set Computing Computer architecture that uses a limited number of instructions. RISC became popular in microprocessors in the 1980s. microcontrollers and related specialty memory products for high-volume embedded control applications. The company, headquartered in Chandler, Arizona, will be added to the S&P MidCap 400 Electronics (Semiconductors) industry group. MAF Bancorp is the parent company of Mid America Bank, a federally chartered stock savings bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . The Bank operates a network of 23 retail-banking offices primarily in Chicago and its western suburbs. The company, headquartered in Clarendon Hills, Illinois Clarendon Hills is a village in DuPage County, Illinois, United States. The population was 7,610 at the 2000 census. Geography Clarendon Hills is located at (41.796030, -87.955960)GR1. , will be added to the S&P SmallCap 600 Savings & Loan Companies industry group. Lincare Holdings is a provider of oxygen and other respiratory therapy respiratory therapy Medical profession concerned with assisting the respiratory function of individuals who have severe lung disorders. Practices include suctioning to clear secretions from the airway, use of aerosol mists (sometimes medicated) or gases to ease breathing, services to patients in the home. The company, headquartered in Clearwater, Florida, will be added to the S&P MidCap 400 Health Care (Specialized Services) industry group. Anchor Bancorp Wisconsin is a holding company engaged in the savings and loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. business through its wholly-owned subsidiary AnchorBank. AnchorBank has 35 full service offices and two loan origination only offices, which are located primarily in southern and western Wisconsin. The company, headquartered in Madison, Wisconsin, will be added to the S&P SmallCap 600 Savings & Loan Companies industry group. Reliance Steel & Aluminum is one of the largest metals-service- center companies in the United States. The company, headquartered in Los Angeles, will be added to the S&P SmallCap 600 Manufacturing (Specialized) industry group. Following is a summary of the announced changes: -0-
S&P 500 INDEX -- August 28, 1998
ECONOMIC
COMPANY SECTOR INDUSTRY GROUP
ADDED Provident Cos. Financials Insurance (Life/Health)
DROPPED Bay Networks Technology Computers (Networking)
S&P MIDCAP 400 INDEX -- August 28, 1998
ECONOMIC
COMPANY SECTOR INDUSTRY GROUP
ADDED Microchip Technology Electronics
Technology (Semiconductors)
DROPPED Provident Cos. Financials Insurance
(Life/Health)
S&P SMALLCAP 600 INDEX-- August 28, 1998
ECONOMIC
COMPANY SECTOR INDUSTRY GROUP
ADDED MAF Bancorp Financials Savings & Loan Companies
DROPPED Microchip Technology Electronics
Technology (Semiconductors)
S&P MIDCAP 400 INDEX -- August 31, 1998
ECONOMIC
COMPANY SECTOR INDUSTRY GROUP
ADDED Lincare Holdings Health Care Health Care(Specialized
Services)
DROPPED Camco Int'l. Energy Oil & Gas(Drilling
Equipment)
S&P SMALLCAP 600 INDEX -- August 31, 1998
ECONOMIC
COMPANY SECTOR INDUSTRY GROUP
ADDED Anchor Bancorp Financials Savings & Loan
Wisconsin Companies
Reliance Steel & Capital Manufacturing
Aluminum Goods (Specialized)
DROPPED Lincare Holdings Health Care Health
Care(Specialized
Services)
Broderbund Software Technology Computers (Software &
Services)
Standard & Poor's Financial Information Services, a division 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. Standard & Poor's calculates and maintains the S&P 500, S&P MidCap 400, S&P SmallCap 600, S&P Super Composite 1500 and S&P REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). Composite Stock Price Indexes, which are widely considered key barometers of stock market activity and performance benchmarks for professional money managers. Approximately $653 billion is currently indexed to the S&P Equity Indexes, including $626 billion indexed to the S&P 500, $20 billion indexed to the S&P MidCap 400, and $7 billion linked to the S&P SmallCap 600. 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: Standard & Poor's, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of David Blitzer V.P. & Chief Economist (212) 208-8434 or Elliott Shurgin V.P., Index Services (212) 208-8709 |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion