Standard & Poor's Announces Changes in S&P Indices.NEW YORK--(BUSINESS WIRE)--Sept. 20, 1999-- Standard & Poor's will make the following changes in the S&P 500 and S&P MidCap 400 Indices: -- Bed Bath & Beyond (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BBBY), an S&P MidCap 400 component, will replace BankBoston Corp. (NYSE NYSE See: New York Stock Exchange :BKB BKB Basler Kantonalbank (Switzerland) BKB Black King Bar (gaming weapon) BKB BV Kwaliteitsverklaringen Bouw (Dutch) BKB BankBoston Corporation ) in the S&P 500 Index after the close of trading on Tuesday, September 21, 1999. Fleet Financial Group (NYSE:FLT FLT Fault FLT Flight FLT Flat FLT Filter FLT Fleet FLT Fermat's Last Theorem FLT Fairlight (software cracking group) FLT Float/Floating FLT Fairfield Language Technologies FLT Fork Lift Truck FLT First Lieutenant ), an S&P 500 component, is acquiring BankBoston Corp. in a transaction anticipated to close on that date. Immediately after the acquisition, Fleet Financial Group will change its name to Fleet Boston Corp. (NYSE:FLT). DQE DQE Detective Quantum Efficiency DQE Duquesne Light Company DQE Detector Quantum Efficiency DQE Differential Quantum Efficiency DQE Design, Quality, Environment DQE DESEX Query Engine DQE Decontamination Quick & Easy (DQE, Inc.) , Inc. (NYSE:DQE) will replace Bed Bath & Beyond in the S&P MidCap 400 Index. Bed Bath & Beyond is a nationwide chain of superstores selling better quality domestics merchandise and home furnishings. The company, headquartered in Union, New Jersey, will be added to the S&P 500 Retail (Specialty) industry group. DQE, Inc. is a multi-utility delivery and services company. Its subsidiaries are: Duquesne Light Company, AquaSource, Duquesne Ent., DQE Energy Services, DQEnergy Partners, and Montauk Inc. The company, headquartered in Coraopolis, Pennsylvania Coraopolis [koreɔpəlɪs] is a borough in Allegheny County in the US state of Pennsylvania. The population was 6,131 at the 2000 census. In 1940 the population peaked at 11,086. , will be added to the S&P MidCap 400 Electric Companies industry group. -0-
Following is a summary of the announced changes:
S&P 500 INDEX -- September 21, 1999
ECONOMIC INDUSTRY
COMPANY SECTOR GROUP
ADDED Bed Bath & Beyond Consumer Cyclicals Retail (Specialty)
DROPPED BankBoston Corp. Financials Banks (Major Regional)
S&P MIDCAP 400 INDEX -- September 21, 1999
ECONOMIC INDUSTRY
COMPANY SECTOR GROUP
ADDED DQE, Inc. Utilities Electric Companies
DROPPED Bed Bath & Beyond Consumer Cyclicals Retail (Specialty)
Standard & Poor's, a division of The McGraw-Hill Companies, Inc., provides financial, economic and investment information and analytical services to the global financial community. S&P calculates and maintains the S&P Global Index, which includes the S&P Euro and Euro Plus for Continental Europe Continental Europe, also referred to as mainland Europe or simply the Continent, is the continent of Europe, explicitly excluding European islands and, at times, peninsulas. , the S&P/TSE 60 for Canada, the S&P 500 for the U.S., the S&P/TOPIX 150 for Japan, and new components under construction for Asia/Pacific, U.K. and Latin America. S&P also publishes the S&P MidCap 400, S&P SmallCap 600, S&P SuperComposite 1500 and S&P REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). Composite for the U.S. and the S&P/TSE Canadian MidCap and S&P/TSE Canadian SmallCap Indices. Over $700 billion is indexed to S&P indices. Founded in 1888, The McGraw-Hill Companies is a leading information services See Information Systems. provider meeting worldwide needs in education, business, finance, the professions and government. The corporation employs 16,500 people located in more than 400 offices in 32 countries. Sales in 1998 were $3.7 billion. Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company. |
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