S&P Announces Changes to US Indices: WCN for PHLY, STBA for WCN, MTD for BGP, HOC for LFG, TMP for SPC
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S&P SmallCap 600 constituent Waste Connections Inc. (NYSE: WCN) will replace Philadelphia Consolidated Holding Corp. (NASDAQ: PHLY) in the S&P MidCap 400, and S&T Bancorp Inc. (NASDAQ: STBA) will replace Waste Connections in the S&P SmallCap 600. Philadelphia Consolidated Holding is being acquired by S&P Global 1200 constituent Tokio Marine Holdings Inc. in a transaction expected to be completed on or about that date, pending final approvals.
Mettler-Toledo International Inc. (NYSE: MTD) will replace Borders Group, Inc. (NYSE: BGP) in the S&P MidCap 400. As of today’s close of trading, Borders Group had a market capitalization of approximately $101 million, whereas the minimum market capitalization needed for admission to the S&P MidCap 400 index is currently $1 billion.
Holly Corp. (NYSE: HOC) will replace LandAmerica Financial Group Inc. (NYSE: LFG), and Tompkins Financial Corporation (NYSE: TMP) will replace Spectrum Brands, Inc. (NYSE: SPC) in the S&P SmallCap 600. As of today’s close, LandAmerica Financial and Spectrum Brands’ market values ranked them 599th and 600th respectively in the index.
Mettler-Toledo International Inc. (NYSE: MTD) will replace Borders Group, Inc. (NYSE: BGP) in the S&P MidCap 400. As of today’s close of trading, Borders Group had a market capitalization of approximately $101 million, whereas the minimum market capitalization needed for admission to the S&P MidCap 400 index is currently $1 billion.
Holly Corp. (NYSE: HOC) will replace LandAmerica Financial Group Inc. (NYSE: LFG), and Tompkins Financial Corporation (NYSE: TMP) will replace Spectrum Brands, Inc. (NYSE: SPC) in the S&P SmallCap 600. As of today’s close, LandAmerica Financial and Spectrum Brands’ market values ranked them 599th and 600th respectively in the index.
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