Clean Harbors (MM) (NASDAQ:CLHB)
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NEW YORK, Oct. 22 /PRNewswire/ -- Standard & Poor's will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:
-- Clean Harbors Inc. (NASD: CLHB) will be added to the S&P MidCap 400
after the close of trading on Monday, October 27. Clean Harbors is
taking the place of DRS Technologies Inc. (NYSE:DRS) which was
removed from the index after the close of trading today upon
completion of its acquisition by S&P Global 1200 constituent
Finmeccanica SpA.
-- Brink's Home Security Holdings Inc. (NYSE:CFL-w) will replace
Charming Shoppes (NASD: CHRS) in the S&P MidCap 400 after the close of
trading on Friday, October 31. Brink's Home Security is being spun off
from S&P MidCap 400 constituent The Brink's Company (NYSE:BCO) in a
transaction expected to be completed on or around that date. The
Brink's Company stub will remain in the index. As of today's close,
Charming Shoppes had a market capitalization of approximately $156
million whereas the minimum market cap required for inclusion in the
index is $1.0 billion.
-- Fulton Financial Corp. (NASD: FULT) will replace Foundry Networks,
Inc. (NASD: FDRY) in the S&P MidCap 400 after the close of trading on
a date to be announced. Foundry Networks is being acquired by Brocade
Communications Systems Inc. (NASD: BRCD) in a transaction still
pending final approvals.
-- CorVel Corp. (NASD: CRVL) will replace OMNOVA Solutions Inc (NYSE: NYSE:OMN) in the S&P SmallCap 600 after the close of trading on Monday,
October 27. As of today's close, OMNOVA Solutions had a market
capitalization of approximately $27 million, ranking it 600th in the
index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
Clean Harbors provides environmental services. Headquartered in Norwell, MA, the company will be added to the S&P 400 GICS (Global Industry Classification Standard) Environmental & Facilities Services Sub-Industry index.
Brink's Home Security Holdings markets, installs, services and monitors security alarm systems. Headquartered in Irving, TX, the company will be added to the S&P MidCap 400 GICS Specialized Consumer Services Sub-Industry index.
Fulton Financial Corporation operates retail banks and other financial services companies. Headquartered in Lancaster, PA the company will be added to the S&P MidCap 400 GICS Regional Banks Sub-Industry index.
CorVel Corp. is a provider of medical cost containment and managed care services. Headquartered in Irvine, CA, the company will be added to the S&P SmallCap 600 GICS Health Care Services Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX - October 22, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
DELETED DRS Industrials Aerospace & Defense
Technologies
S&P MIDCAP 400 INDEX - October 27, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Clean Industrials Environmental &
Harbors Facilities Services
S&P SMALLCAP 600 INDEX - October 27, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED CorVel Health Care Health Care Services
DELETED OMNOVA Solutions Materials Specialty Chemicals
S&P MIDCAP 400 INDEX - October 31, 2008
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Brink's Home Industrials Specialized Consumer
Security Holdings Services
DELETED Charming Shoppes Consumer Apparel Retail
Discretionary
S&P MIDCAP 400 INDEX - TBA
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Fulton Financial Financials Regional Banks
DELETED Foundry Networks Information Technology Communications
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 Index Services
Standard & Poor's Index Services, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. Its family of indices includes the S&P 500, an index with $1.5 trillion invested and $4.85 trillion benchmarked, and the S&P Global 1200, a composite index comprised of seven regional and country headline indices. For more information, please visit http://www.standardandpoors.com/indices.
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 23 countries and markets, 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/.
DATASOURCE: Standard & Poor's
CONTACT: David M. Blitzer, Ph.D., Managing Director & Chairman of the
Index Committee, +1-212-438-3907
Web Site: http://www.standardandpoors.com/
http://www.standardandpoors.com/indices