S&P Announces Changes to US Indices: PCS for TEL, FOSL for YRCW, ALGN for FOSL
Tyco Electronics Ltd. (NYSE: TEL) will be removed from the S&P 500 after the close of trading on Thursday, June 25. Tyco is in the process of redomesticating to Switzerland, rendering it ineligible for continued inclusion in the S&P 500 index.
Tyco Electronics’ place in the S&P 500 will be taken by MetroPCS Communications Inc. (NYSE: PCS) effective after the close of trading on Monday, June 29.
S&P SmallCap 600 constituent Fossil Inc. (NASDAQ: FOSL) will replace YRC Worldwide Inc. (NASDAQ: YRCW) in the S&P MidCap 400, and Align Technology Inc. (NASDAQ: ALGN) will replace Fossil Inc. in the S&P SmallCap 600. As of today’s close of trading, YRC Worldwide had a market capitalization of approximately $100 million, ranking it 400th in the index.
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