S&P Announces Changes to US Indices: MET for COV, FTI for COV, MCRS for FTI, IPCM for MCRS, SFNC for GFG, DTSI for IFC
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S&P 500 constituent MetLife Inc. (NYSE: MET) will replace Covidien Ltd. (NYSE: COV) in the S&P 100, S&P MidCap 400 constituent FMC Technologies Inc. (NYSE: FTI) will replace Covidien in the S&P 500, S&P SmallCap 600 constituent MICROS Systems Inc. (NASDAQ: MCRS) will replace FMC Technologies in the S&P MidCap 400, and IPC The Hospitalist Company Inc. (NASDAQ: IPCM) will replace MICROS Systems in the S&P SmallCap 600. Covidien is in the process of redomesticating to Ireland, rendering it ineligible for continued inclusion in the S&P 100 & 500 indices.
Simmons First National Corp. (NASDAQ: SFNC) will replace Guaranty Financial Group Inc. (NYSE: GFG), and DTS Inc. (NASDAQ: DTSI) will replace Irwin Financial Corp. (NYSE: IFC) in the S&P SmallCap 600. As of today’s close of trading, Guaranty Financial and Irwin Financial had market capitalizations of approximately $37 million and $35 million respectively, whereas the minimum market cap needed to be admitted to the index is currently $200 million.
Simmons First National Corp. (NASDAQ: SFNC) will replace Guaranty Financial Group Inc. (NYSE: GFG), and DTS Inc. (NASDAQ: DTSI) will replace Irwin Financial Corp. (NYSE: IFC) in the S&P SmallCap 600. As of today’s close of trading, Guaranty Financial and Irwin Financial had market capitalizations of approximately $37 million and $35 million respectively, whereas the minimum market cap needed to be admitted to the index is currently $200 million.
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