IHS Markit (INFO) to Join S&P 500; TEGNA (TGNA) and Cars.com (CARS) to Join S&P MidCap 400; J.C. Penney (JCP), Time (TIME) and Independence Realty Trust (IRT) to Join S&P SmallCap 600
- S&P 500, Nasdaq post worst weeks since pandemic start as Netflix woes deepen slide
- Netflix (NFLX) Stock Plummets on Weak Guidance to Prompt Several Downgrades to Neutral
- Peloton (PTON) Shares Recover Some Losses in Pre Market After Sharing Preliminary FQ2 Results, Stifel Upgrades to Buy as 'Stock Has Over Corrected'
- Bitcoin (BTC) Price Plunges 6% to Hit 5-Month Lows
- Dollar dips with U.S. Treasury yields but still up for week; bitcoin falls
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
(Updated - May 24, 2017 5:21 PM EDT)
S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:
IHS Markit Ltd. (NASDAQ: INFO) will replace TEGNA Inc. (NYSE: TGNA) in the S&P 500, TEGNA and Cars.com (NYSE: CARS) will replace J.C. Penney Company Inc. (NYSE: JCP) and Time Inc. (NYSE: TIME) respectively in the S&P MidCap 400, and J.C. Penney and TIME will replace Tuesday Morning Corp. (NASDAQ: TUES) and Hornbeck Offshore Services Inc. (NYSE: HOS) respectively in the S&P SmallCap 600 effective prior to the open on Friday, June 2. TEGNA is spinning off Cars.com in a transaction expected to be completed prior to the open on Thursday, June 1, pending final conditions. Post the spin-off transaction, TEGNA’s market capitalization will be more representative of the mid-cap market space. J.C. Penney and TIME are ranked near the bottom of the S&P MidCap 400 and no longer representative of the mid-cap market space. Tuesday Morning and Hornbeck Offshore Services are ranked near the bottom of the S&P SmallCap 600 and no longer representative of the small-cap market space.
Independence Realty Trust, Inc. (NYSE: IRT) will replace Ultratech Inc. (NASDAQ: UTEK) in the S&P SmallCap 600 effective prior to the open on Tuesday, May 30. S&P SmallCap 600 constituent Veeco Instruments Inc. (NASDAQ: VECO) is acquiring Ultratech in a deal expected to be completed on or about that date pending final conditions.
S&P 500 constituent Yahoo! Inc. (NASDAQ: YHOO) is expected to convert to a publicly traded, nondiversified, closed-end management investment company under the Investment Company Act of 1940, following the expected sale of its operational business to S&P 100 & 500 constituent Verizon Communications Inc. (NYSE: VZ) in mid-June. Yahoo! will therefore be ineligible for continued inclusion in the S&P 500 following the sale. To take advantage of the expected increased liquidity surrounding the quarterly rebalance, S&P Dow Jones Indices will remove Yahoo! from the S&P 500 effective at the open on Monday, June 19 to coincide with the June 2017 rebalance. A replacement candidate will be announced at a later date with sufficient notice to clients.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IHS Markit (INFO) Reports Q4 Revenue of $1.176B, Adjusted EPS of $0.85
- SPDR S&P 500 ETF Trust (SPY) call put ratio 1 call to 1.4 puts compared to its 90-day average of 1 call to 1.3 puts
- Peloton (PTON) resumed trading, now down 23%
Create E-mail Alert Related CategoriesCorporate News, Hot Corp. News, Index Changes, Trader Talk
Related EntitiesStandard & Poor's
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!