Marathon Petroleum to Replace RadioShack in S&P 500 June 30

Marathon Petroleum Corp. will replace RadioShack Corp. (RSH) in the Standard & Poor’s 500 Index after the close of trading on June 30, S&P said in a statement.

Marathon Oil Corp. (MRO) is spinning off Marathon Petroleum in a transaction expected to be completed after regular trading ends on June 30, and “RadioShack’s $1.4 billion market capitalization is more representative of the mid-cap market space,” S&P said. Findlay, Ohio-based Marathon Petroleum refines and markets energy products. RadioShack fell 3.4 percent to $12.75 in after-hours trading as of 5:43 p.m. in New York.

RadioShack, AMC Networks Inc. and Holly Corp. (HOC) will join the S&P MidCap 400 Index, S&P said, replacing Harte-Hanks Inc. (HHS), Boyd Gaming and Frontier Oil Corp. (FTO) Harte-Hanks, Boyd Gaming Corp. (BYD) and Entropic Communications Inc. (ENTR) will enter the S&P SmallCap 600 Index, while Hutchinson Technology, StarTek Inc. (SRT) and Holly will leave that gauge. Those changes will also take place June 30.

Holly is aquiring Frontier Oil in a deal expected to be completed on or about June 30, S&P said.

Companies in the S&P 500 have an average market value of $24.4 billion, while S&P MidCap 400 components have a mean $3 billion and S&P SmallCap 600 members average $876.1 million according to data compiled by Bloomberg. S&P said that more than $1.25 trillion is indexed to its gauges.

To contact the reporter on this story: Joanna Ossinger at

To contact the editor responsible for this story: Nick Baker at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.