S&P Announces Changes to U.S. Indices: WPO for TIN, GFG for ASHW, FOR for MIVA, TSS for SNV, FDRY for ANDW
S&P MidCap 400 constituent The Washington Post Co. (NYSE: WPO) will replace Temple-Inland Inc. (NYSE: TIN) in the S&P 500, and the new Temple-Inland Inc. (NYSE: TIN) will replace Washington Post in the S&P MidCap 400 after the close of trading on Friday, December 28. Temple-Inland is expected to complete its breakup into three separate companies on or about that date.
Guaranty Financial Group Inc. (NYSE: GFG) will replace Ashworth Inc. (NASDAQ: ASHW) in the S&P SmallCap 600 and Forestar Real Estate Group Inc. (NYSE: FOR) will replace MIVA Inc. (NASDAQ: MIVA), also in the S&P SmallCap 600, after the close of trading on Friday, December 28. Guaranty Financial Group and Forestar Real Estate Group are being spun off by Temple-Inland in a transaction expected to close on or about that date. At today’s close of trading, Ashworth and MIVA had market capitalizations which ranked them 600 and 598, respectively, in the S&P SmallCap 600.
Total System Services Inc. (NYSE: TSS) will replace Synovus Financial Corp. (NYSE: SNV) in the S&P 500 and the new Synovus Financial Corp. (NYSE: SNV) will replace S&P MidCap 400 constituent Powerwave Technologies Inc. (NASDAQ: PWAV) in the S&P MidCap 400 after the close of trading on Monday, December 31. Synovus Financial is spinning off Total System Services in a deal expected to close on or about that date. At today’s close of trading, Powerwave Technologies had a market value of $566 million, whereas the minimum market cap a company must maintain to be eligible for admission to the S&P MidCap 400 is currently $1.5 billion.
Foundry Networks (NASDAQ: FDRY) will replace Andrew Corp. (NASDAQ: ANDW) in the S&P MidCap 400 after the close of trading on December 27. Andrew is being acquired by S&P MidCap 400 constituent CommScope Inc. (NYSE: CTV) in a transaction expected to close on or about that date.
Guaranty Financial Group Inc. (NYSE: GFG) will replace Ashworth Inc. (NASDAQ: ASHW) in the S&P SmallCap 600 and Forestar Real Estate Group Inc. (NYSE: FOR) will replace MIVA Inc. (NASDAQ: MIVA), also in the S&P SmallCap 600, after the close of trading on Friday, December 28. Guaranty Financial Group and Forestar Real Estate Group are being spun off by Temple-Inland in a transaction expected to close on or about that date. At today’s close of trading, Ashworth and MIVA had market capitalizations which ranked them 600 and 598, respectively, in the S&P SmallCap 600.
Total System Services Inc. (NYSE: TSS) will replace Synovus Financial Corp. (NYSE: SNV) in the S&P 500 and the new Synovus Financial Corp. (NYSE: SNV) will replace S&P MidCap 400 constituent Powerwave Technologies Inc. (NASDAQ: PWAV) in the S&P MidCap 400 after the close of trading on Monday, December 31. Synovus Financial is spinning off Total System Services in a deal expected to close on or about that date. At today’s close of trading, Powerwave Technologies had a market value of $566 million, whereas the minimum market cap a company must maintain to be eligible for admission to the S&P MidCap 400 is currently $1.5 billion.
Foundry Networks (NASDAQ: FDRY) will replace Andrew Corp. (NASDAQ: ANDW) in the S&P MidCap 400 after the close of trading on December 27. Andrew is being acquired by S&P MidCap 400 constituent CommScope Inc. (NYSE: CTV) in a transaction expected to close on or about that date.
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