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NEW YORK, Feb. 4 /PRNewswire/ -- Standard and 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 Wednesday, February 11:
-- NewAlliance Bancshares Inc. (NYSE:NAL) will replace Modine
Manufacturing Co. (NYSE:MOD) in the S&P MidCap 400. As of today's
close of trading, Modine had a market value of approximately $80
million, ranking 400th in the index.
-- eResearch Technology Inc. (NASD: ERES) will replace Corus Bankshares
Inc. (NASD: CORS), and Ebix Inc. (NASD: EBIX) will replace 4 Kids
Entertainment Inc. (NYSE:KDE) in the S&P SmallCap 600. As of today's
close of trading, Corus Bankshares and 4 Kids Entertainment had market
capitalizations of approximately $19 million and $20 million
respectively, ranking them 600th and 599th in the index.
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: http://www.standardandpoors.com/.
NewAlliance Bancshares provides a full range of consumer and commercial banking products and services, trust services and investment and insurance products and services. Headquartered in New Haven, CT, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Thrifts & Mortgage Finance Sub-Industry index.
eResearch Technology is a provider of technology and services to the pharmaceutical, biotechnology and medical device industries. Headquartered in Philadelphia, PA, the company will be added to the S&P SmallCap 600 GICS Life Sciences Tools & Services Sub-Industry index.
Ebix supplies software and e-commerce solutions to the insurance industry. Headquartered in Atlanta, GA, the company will be added to the S&P SmallCap 600 GICS Application Software Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX - February 11, 2009
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED NewAlliance Financials Thrifts & Mortgage
Finance
DELETED Modine Consumer Discretionary Auto Parts & Equipment
S&P SMALLCAP 600 INDEX - February 11, 2009
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED eResearch Health Care Life Sciences
Tools & Services
Ebix Information Technology Application Software
DELETED Corus Bankshares Financials Thrifts & Mortgage
Finance
4 Kids Consumer Discretionary Movies & Entertainment
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: CONTACT: David M. Blitzer, Ph.D., Managing Director & Chairman
of the Index Committee, +1-212-438-3907
Web Site: http://www.standardandpoors.com/