Chaparral Steel (NASDAQ:CHAPV)
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Standard & Poor's Announces Changes to U.S. Indices
NEW YORK, July 25 /PRNewswire-FirstCall/ -- Standard & Poor's will make the
following changes to the S&P MidCap 400 and S&P SmallCap 600 indices after the
close of trading on Friday, July 29:
* Intuitive Surgical Inc. (NASD: ISRG) will replace Titan Corp. (NYSE:
NYSE:TTN) in the S&P MidCap 400. Titan is being acquired by a wholly-owned
subsidiary of S&P 500 constituent L-3 Communications Holdings Inc.
(NYSE:LLL) in a deal expected to close on or about that date, pending
final approvals.
* Chaparral Steel Co. (NASD: CHAPV) will replace Enesco Group Inc. (NYSE:
NYSE:ENC) in the S&P SmallCap 600. Chaparral Steel is being spun off by S&P
SmallCap 600 constituent Texas Industries Inc. (NYSE:TXI) in a deal
expected to close on or about that date. At the close of trading on
July 25 Enesco had a market cap of approximately $39 million, ranking
600th in the index.
Standard & Poor's will monitor these transactions, and post any relevant
updates on its website: http://www.standardandpoors.com/ .
Intuitive Surgical offers proprietary advanced robotics and computerized
visualization technology for the performance of minimally invasive surgeries.
Headquartered in Sunnyvale, CA, the company will be added to the S&P MidCap 400
GICS (Global Industry Classification Standard) Health Care Equipment
Sub-Industry Index.
Chaparral Steel is a supplier of structural steel products, such as large-
sized structural beams, specialty bar products and reinforcing bar.
Headquartered in Midlothian, TX, the company will be added to the S&P SmallCap
600 GICS Steel Sub-Industry Index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX -- July 29, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Intuitive Surgical Health Care Health Care Equipment
DELETED Titan Corp. Information IT Consulting & Other
Technology Services
S&P SMALLCAP 600 INDEX -- July 29, 2005
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Chaparral Steel Materials Steel
DELETED Enesco Group Consumer Discretionary Housewares &
Specialties
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 independent credit ratings, indices, risk
evaluation, investment research, data and valuations. With 6,500 employees
located in 22 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/ .
Founded in 1888, The McGraw-Hill Companies 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, BusinessWeek and McGraw-Hill Education. The Corporation has more than
290 offices in 37 countries. Sales in 2004 were $5.3 billion. Additional
information is available at http://www.mcgraw-hill.com/ .
DATASOURCE: Standard & Poor's
CONTACT: David M. Blitzer, Ph.D.
Managing Director & Chairman of the Index Committee,
Standard & Poor's
+1-212-438-3907
Web site: http://www.standardandpoors.com/
http://www.mcgraw-hill.com/