S&P Announces Changes to US Indices: CLHB for DRS, CFL for CHRS, FULT for FDRY, CRVL for OMN

October 22, 2008 5:19 PM EDT

Clean Harbors Inc. (NASDAQ: CLHB) will be added to the S&P MidCap 400 after the close of trading on Monday, October 27. Clean Harbors is taking the place of DRS Technologies Inc. (NYSE: DRS) which was removed from the index after the close of trading today upon completion of its acquisition by S&P Global 1200 constituent Finmeccanica SpA .

Brink’s Home Security Holdings Inc. (NYSE: CFL) will replace Charming Shoppes (NASDAQ: CHRS) in the S&P MidCap 400 after the close of trading on Friday, October 31. Brink’s Home Security is being spun off from S&P MidCap 400 constituent The Brink’s Company (NYSE: BCO) in a transaction expected to be completed on or around that date. The Brink’s Company stub will remain in the index. As of today’s close, Charming Shoppes had a market capitalization of approximately $156 million whereas the minimum market cap required for inclusion in the index is $1.0 billion.

Fulton Financial Corp. (NASDAQ: FULT) will replace Foundry Networks, Inc. (NASDAQ: FDRY) in the S&P MidCap 400 after the close of trading on a date to be announced. Foundry Networks is being acquired by Brocade Communications Systems Inc. (NASDAQ: BRCD) in a transaction still pending final approvals.

CorVel Corp. (NASDAQ: CRVL) will replace OMNOVA Solutions Inc (NYSE: OMN) in the S&P SmallCap 600 after the close of trading on Monday, October 27. As of today’s close, OMNOVA Solutions had a market capitalization of approximately $27 million, ranking it 600th in the index.

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