NEW YORK, Dec. 19 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices: -- S&P MidCap 400 constituent The Washington Post Co. (NYSE:WPO) will replace Temple-Inland Inc. (NYSE:TIN) in the S&P 500, and the new Temple-Inland Inc. (NYSE:TINwi) will replace Washington Post in the S&P MidCap 400 after the close of trading on Friday, December 28. Temple-Inland is expected to complete its breakup into three separate companies on or about that date. -- Guaranty Financial Group Inc. (NYSE:GFGwi) will replace Ashworth Inc. (NASD:ASHW) in the S&P SmallCap 600 and Forestar Real Estate Group Inc. (NYSE:FORwi) will replace MIVA Inc. (NASD:MIVA), also in the S&P SmallCap 600, after the close of trading on Friday, December 28. Guaranty Financial Group and Forestar Real Estate Group are being spun off by Temple-Inland in a transaction expected to close on or about that date. At today's close of trading, Ashworth and MIVA had market capitalizations which ranked them 600 and 598, respectively, in the S&P SmallCap 600. -- Total System Services Inc. (NYSE: TSSwi) will replace Synovus Financial Corp. (NYSE:SNV) in the S&P 500 and the new Synovus Financial Corp. (NYSE:SNVwi) will replace S&P MidCap 400 constituent Powerwave Technologies Inc. (NASD:PWAV) in the S&P MidCap 400 after the close of trading on Monday, December 31. Synovus Financial is spinning off Total System Services in a deal expected to close on or about that date. At today's close of trading, Powerwave Technologies had a market value of $566 million, whereas the minimum market cap a company must maintain to be eligible for admission to the S&P MidCap 400 is currently $1.5 billion. -- Foundry Networks (NASD:FDRY) will replace Andrew Corp. (NASD:ANDW) in the S&P MidCap 400 after the close of trading on December 27. Andrew is being acquired by S&P MidCap 400 constituent CommScope Inc. (NYSE:CTV) in a transaction expected to close on or about that date. Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com. Washington Post publishes The Washington Post newspaper and Newsweek magazine, operates TV stations and cable systems, and provides education and database services. Headquartered in Washington, D.C., the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Publishing Sub-Industry index. Temple-Inland manufactures paper, corrugated packaging and building materials. Headquartered in Austin, TX, the company will be added to the S&P MidCap 400 GICS Paper Packaging Sub-Industry index. Guaranty Financial Group operates a federally chartered savings bank and an insurance company. Headquartered in Austin, TX, the company will be added to the S&P SmallCap 600 GICS Thrifts & Mortgage Finance Sub-Industry index. Forestar Real Estate Group is a real estate investment and development company. Headquartered in Austin, TX, the company will be added to the S&P SmallCap 600 GICS Real Estate Management & Development Sub-Industry index. Total System Services processes data, transactions and payments for domestic and international issuers of credit, debit, commercial, and private-label cards. Headquartered in Columbus, GA, the company will be added to the S&P 500 GICS Data Processing & Outsourced Services Sub-Industry index. Synovus Financial owns community banks in Georgia and four other southern states. Headquartered in Columbus, GA, the company will be added to the S&P MidCap 400 GICS Regional Banks Sub-Industry index. Foundry Networks makes high-performance Gigabit Ethernet switches and various other switches for network deployment. Headquartered in Santa Clara, CA, the company will be added to the S&P MidCap 400 GICS Communications Equipment Sub-Industry index. Following is a summary of the changes: S&P MIDCAP 400 INDEX - December 27, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Foundry Information Communications Networks Technology Equipment DELETED Andrew Information Communications Technology Equipment S&P 500 INDEX - December 28, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Washington Post Consumer Publishing Discretionary DELETED Temple-Inland Materials Paper Packaging S&P MIDCAP 400 INDEX - December 28, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Temple-Inland Materials Paper Packaging (New) DELETED Washington Post Consumer Publishing Discretionary S&P SMALLCAP 600 INDEX - December 28, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Guaranty Financials Thrifts and Financial Group Mortgage Finance Forestar Real Financials Real Estate Estate Group Management & Development DELETED Ashworth Consumer Apparel, Discretionary Accessories & Luxury Goods MIVA Information Internet Software Technology & Services S&P 500 INDEX - December 31, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Total System Information Data Processing & Services Technology Outsourced Services DELETED Synovus Financials Regional Banks S&P MIDCAP 400 INDEX - December 31, 2007 COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED Synovus (New) Financials Regional Banks DELETED Powerwave Information Communications Technologies Technologies Equipment Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned. About Standard & Poor's Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 8,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com. About The McGraw-Hill Companies: Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor's, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2006 were $6.3 billion. Additional information is available at http://www.mcgraw-hill.com. SOURCE Standard & Poor's CONTACT: David M. Blitzer, Ph.D. Managing Director & Chairman of the Index Committee (212) 438-3907 -0- Dec/19/2007 22:52 GMT
Standard & Poor's Announces Changes to U.S. Indices
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