NEW YORK, NY, US – S&P Dow Jones Indices will make the following changes to the S&P 100, S&P 500, MidCap 400 and S&P SmallCap 600 indices after the close of trading on Friday, March 21.
S&P 500 constituent Biogen Idec Inc. (NASD:BIIB) will replace S&P 500 constituent American Electric Power Company Inc. (NYSE:AEP) in the S&P 100. Biogen Idec has a market capitalization above $80 billion and is more representative of the mega-cap market space. American Electric Power Company will remain in the S&P 500.
An S&P 500 constituent will switch places with an S&P MidCap 400 constituent, and an S&P MidCap 400 constituent will switch places with an S&P SmallCap 600 constituent.
These transfers will make each index more representative of its market capitalization range; the company moving to the S&P 500 has a market cap above $15 billion, the companies moving to the S&P MidCap 400 have market caps between $3 billion and $5 billion, and the company moving to the S&P SmallCap 600 has a market cap of approximately $1 billion.
The transfers will be as follows:
S&P MidCap 400 constituent Keurig Green Mountain Inc. (NASD:GMCR) will replace WPX Energy Inc. (NYSE:WPX) in the S&P 500, and WPX Energy will replace Keurig Green Mountain in the S&P MidCap 400.
S&P MidCap 400 constituent Matson Inc. (NASD:MATX) will replace Kate Spade & Company (NYSE:KATE) in the S&P SmallCap 600, and Kate Spade will replace Matson in the S&P MidCap 400.
Biogen Idec is a biotechnology company headquartered in Cambridge, MA.
Keurig Green Mountain is engaged in the specialty coffee and coffeemaker businesses. Headquartered in Waterbury, VT, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Packaged Foods & Meats Sub-Industry index.
WPX Energy is a natural gas and oil exploration and production company. Headquartered in Tulsa, OK, the company will be added to the S&P MidCap 400 GICS Oil & Gas Exploration & Production Sub-Industry index. Matson operates as an ocean freight carrier. Headquartered in Honolulu, HI, the company will be added to the S&P SmallCap 600 GICS Marine Sub-Industry index.
Kate Spade & Company designs and markets a range of apparel and accessories. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 Apparel, Accessories & Luxury Goods Sub-Industry index.
