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Standard & Poor's Announces Changes to S&P U.S. Indices
NEW YORK, Nov. 6 /PRNewswire/ -- Standard & Poor's will make the following
changes in the S&P 500, S&P MidCap 400 and S&P SmallCap 600 Indices after the
close of trading on Wednesday, November 12, 2003:
* S&P MidCap 400 constituent IDEC Pharmaceuticals Corp. (NASDAQ:IDPH) is
acquiring S&P 500 constituent Biogen Inc. (NASDAQ:BGEN) in a
transaction anticipated to close on or about November 12. Consequently
the newly created company, BIOGEN IDEC Inc. (NASDAQ:BIIB), will
replace Biogen Inc. in the S&P 500, S&P SmallCap 600 constituent
Raymond James Financial Inc. (NYSE:RJF) will replace IDEC
Pharmaceuticals in the S&P MidCap 400, and United Surgical Partners
International Inc. (NASDAQ:USPI) will replace Raymond James Financial
in the S&P SmallCap 600 Index. The Biogen-IDEC merger is still
contingent upon shareholder approval. Standard & Poor's will monitor
this transaction, and post any relevant updates on its website:
http://www.standardandpoors.com/.
BIOGEN IDEC is a global biotechnology company, featuring products and
capabilities in cancer and autoimmune diseases. The company, headquartered in
Cambridge, MA, will be added to the S&P 500 GICS (Global Industry Classification
Standard) Biotechnology sub-industry.
Raymond James Financial is engaged principally in the securities brokerage
business, and also provides investment management services for retail and
institutional clients. The company, headquartered in St. Petersburg, FL, will
be added to the S&P MidCap 400 GICS Investment Banking & Brokerage sub-
industry.
United Surgical Partners Int'l. owns and operates short-stay surgical
facilities, including surgery centers and private surgical hospitals, in the
United States, Spain and England. The company, headquartered in Addison, TX,
will be added to the S&P SmallCap 600 GICS Health Care Facilities sub-
industry.
Following is a summary of the changes:
S&P 500 INDEX - November 12, 2003
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED BIOGEN IDEC Health Care Biotechnology
DELETED Biogen Inc. Health Care Biotechnology
S&P MIDCAP 400 INDEX - November 12, 2003
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED Raymond James Financials Investment Banking
Financial & Brokerage
DELETED IDEC Pharmaceuticals Health Care Biotechnology
S&P SMALLCAP 600 INDEX - November 12, 2003
COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED United Surgical Health Care Health Care
Partners Int'l Facilities
DELETED Raymond James Financials Investment Banking
Financial & Brokerage
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.
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 5000 employees
located in 20 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 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 320
offices in 34 countries. Sales in 2002 were $4.8 billion. Additional information
is available at http://www.mcgraw-hill.com/.
DATASOURCE: Standard & Poor's
CONTACT: David Blitzer
Managing Director, Quantitative Services
(212) 438-3907
Web site: http://www.standardandpoors.com/
http://www.mcgraw-hill.com/