S&P Announces Changes to U.S. Indices (QCOM for CCU, DVA for CCU, ANSS for TQNT, ECLP for ANST, JBT for PLNR)

July 24, 2008 5:21 PM EDT

S&P 500 constituent Qualcomm Inc. (NASDAQ: QCOM) will replace Clear Channel Communications Inc. (NYSE: CCU) in the S&P 100, and DaVita Inc. (NYSE: DVA) will replace Clear Channel in the S&P 500 after the close of trading on Wednesday, July 30. Clear Channel is being taken private in a transaction expected to close on or about that date, pending final approvals.

S&P SmallCap 600 constituent ANSYS Inc. (NASDAQ: ANSS) will replace TriQuint Semiconductor Inc. (NASDAQ: TQNT) in the S&P MidCap 400, TriQuint will replace ANSYS in the S&P SmallCap 600, and Eclipsys Corp. (NASDAQ: ECLP) will replace Ansoft Corp. (NASDAQ: ANST) in the S&P SmallCap 600 after the close of trading on Thursday, July 31. Ansoft is being acquired by ANSYS in a transaction expected to close on or about that date. Eclipsys was previously announced as a replacement for S&P SmallCap 600 constituent W-H Energy Services Inc. (NYSE: WHQ), which is in the process of being acquired by S&P 500 constituent Smith International Inc. (NYSE: SII). A new replacement for W-H Energy will be announced at a later date.

John Bean Technologies Corp. (NYSE: JBT) will replace Planar Systems Inc. (NASDAQ: PLNR) in the S&P SmallCap 600 after the close of trading on Thursday, July 31. John Bean Technologies is being spun off by S&P MidCap 400 constituent FMC Technologies Inc. (NYSE: FTI) in a transaction expected to close on that date. As of today’s close of trading Planar Systems had a market capitalization of approximately $50 million, whereas the minimum market cap a company must maintain in order to be eligible for addition to the index is $300 million.

Related Categories

Corporate News
Hot List
Trader Talk

Stocks Mentioned

Related Entities

• Standard & Poor's

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?