Abbvie (ABBV) to Join S&P 500, Will Replace Fed. Investors (FII)
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S&P Dow Jones Indices will make the following changes to the S&P 100, 500, MidCap 400 and SmallCap 600 indices after the close of trading on Monday, December 31:
* AbbVie Inc. (NYSE: ABBV) will replace Dell Inc. (Nasdaq: DELL) in the S&P 100, and Federated Investors Inc. (NYSE: FII) in the S&P 500. Federated will replace ITT Educational Services Inc.(NYSE: ESI) in the S&P MidCap 400, and ITT Educational Services will replace NCI Inc. (Nasdaq: NCIT) in the S&P SmallCap 600. S&P 100 and 500 constituent Abbott Laboratories (NYSE: ABT) is spinning off AbbVie in a transaction expected to be completed after the close of trading on December 31. The Abbott Laboratories stub will remain in the S&P 100 and 500. Dell has a market capitalization below $18.5 billion and is no longer representative of the mega-cap market space. Federated Investors¡¦ market capitalization is below $2.2 billion, making it more representative of the mid-cap market space, and ITT Educational Services¡¦ market capitalization is below $450 million making it more representative of the small-cap market space. NCI Corp.is ranked #600 in the S&P SmallCap 600.
* Procera Networks, Inc. (Nasdaq: PKT) will replace Presidential Life Corp. (Nasdaq: PLFE) in the S&P SmallCap 600. Athene Holding Ltd. is acquiring Presidential Life in a deal expected to be completed soon pending final approvals.
AbbVie engages in the discovery, development, manufacture, and sale of pharmaceuticals and biologics. Headquartered in North Chicago, IL, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Pharmaceuticals Sub-Industry index.
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* AbbVie Inc. (NYSE: ABBV) will replace Dell Inc. (Nasdaq: DELL) in the S&P 100, and Federated Investors Inc. (NYSE: FII) in the S&P 500. Federated will replace ITT Educational Services Inc.(NYSE: ESI) in the S&P MidCap 400, and ITT Educational Services will replace NCI Inc. (Nasdaq: NCIT) in the S&P SmallCap 600. S&P 100 and 500 constituent Abbott Laboratories (NYSE: ABT) is spinning off AbbVie in a transaction expected to be completed after the close of trading on December 31. The Abbott Laboratories stub will remain in the S&P 100 and 500. Dell has a market capitalization below $18.5 billion and is no longer representative of the mega-cap market space. Federated Investors¡¦ market capitalization is below $2.2 billion, making it more representative of the mid-cap market space, and ITT Educational Services¡¦ market capitalization is below $450 million making it more representative of the small-cap market space. NCI Corp.is ranked #600 in the S&P SmallCap 600.
* Procera Networks, Inc. (Nasdaq: PKT) will replace Presidential Life Corp. (Nasdaq: PLFE) in the S&P SmallCap 600. Athene Holding Ltd. is acquiring Presidential Life in a deal expected to be completed soon pending final approvals.
AbbVie engages in the discovery, development, manufacture, and sale of pharmaceuticals and biologics. Headquartered in North Chicago, IL, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Pharmaceuticals Sub-Industry index.
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