Three Companies Added to S&P 500

   By Patrick Thomas 
 

Three new companies were named Monday to join the S&P 500 index, according to S&P Dow Jones Indices.

Food-processing company Lamb Weston Holdings Inc. (LW) will replace Rockwell Collins Inc., which is being acquired by United Technologies Corp., in the S&P 500 index, and circuit manufacturer Maxim Integrated Products Inc. (MXIM) will replace Aetna Inc. CVS Health Corp. is acquiring Aetna in a $69 billion deal, which is expected to close on Wednesday.

Diamondback Energy Inc. (FANG) is also taking Stericycle Inc.'s place in the S&P 500. Stericycle replaces Energen Corp., which Diamondback announced it was acquiring in a $9.2 billion deal in August, in the S&P MidCap 400.

S&P Dow Jones Indices, a division of S&P Global Inc., said Stericycle has a market capitalization more appropriate for the mid-cap market space.

The changes will take effect before the opening of trading on Dec. 3, S&P Dow Jones Indices said Monday.

The moves also mean that mutual and exchange-traded funds that track the S&P 500 will have to add Lamb Weston, Maxim and Diamondback Energy to their holdings.

Write to Patrick Thomas at [e-mail]

(END) Dow Jones Newswires

November 26, 2018 18:29 ET (23:29 GMT)

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