Standard & Poor's Announces Changes to S&P U.S. Indices
25 Juin 2004 - 12:54AM
PR Newswire (US)
Standard & Poor's Announces Changes to S&P U.S. Indices NEW
YORK, June 24 /PRNewswire/ -- Standard & Poor's will make the
following changes to the S&P 500, S&P MidCap 400 and
S&P SmallCap 600 indices on a date or dates to be announced: *
Upon completion of the pending merger between S&P 500
constituents Regions Financial Corp. (NYSE:RF) and Union Planters
Corp. (NYSE:UPC) the surviving entity, to be called Regions
Financial Corp. (NYSE:RF), will replace the current Regions
Financial, while S&P MidCap 400 constituent Sovereign Bancorp
Inc. (NYSE:SOV) will replace Union Planters (NYSE:UPC), in the
S&P 500. AirTran Holdings Inc. (NYSE:AAI) will replace
Sovereign in the S&P MidCap 400. * S&P SmallCap 600
constituent INAMED Corp. (NASD: IMDC) will replace Provident
Financial Group Inc. (NASD: PFGI) in the S&P MidCap 400.
Provident is being acquired by S&P 500 constituent National
City Corp. (NYSE:NCC). BankAtlantic Bancorp (NYSE:BBX) will replace
INAMED in the S&P SmallCap 600. Standard & Poor's will
monitor these transactions, and post any relevant updates on its
website: http://www.standardandpoors.com/. The new Regions
Financial will be a bank holding company operating predominantly in
the southern and midwestern U.S. Headquartered in Birmingham, AL,
the company will be added to the S&P 500 GICS (Global Industry
Classification Standard) Regional Banks Sub-Industry Index.
Sovereign Bancorp operates roughly 550 branches in the northeastern
U.S. Headquartered in Philadelphia, PA, the company will be added
to the S&P 500 GICS Thrifts & Mortgage Finance Sub-Industry
Index. AirTran is a provider of low-cost airline service, primarily
in the eastern U.S. Headquartered in Orlando, FL, the company will
be added to the S&P MidCap 400 GICS Airlines Sub-Industry
Index. INAMED is a leading manufacturer of breast augmentation,
facial aesthetics and obesity intervention devices. Headquartered
in Santa Barbara, CA, the company will be added to the S&P
MidCap 400 GICS Health Care Equipment Sub- Industry Index. Through
its subsidiaries BankAtlantic-FSB, Levitt Cos. and Ryan, Beck &
Co., BankAtlantic Bancorp provides a full line of products and
services encompassing consumer and commercial banking, brokerage
and investment banking. Headquartered in Fort Lauderdale, FL, the
company will be added to the S&P SmallCap 600 GICS Thrifts
& Mortgage Finance Sub-Industry Index. Following is a summary
of the changes: S&P 500 INDEX - TBA COMPANY GICS ECONOMIC
SECTOR GICS SUB-INDUSTRY ADDED Regions Financials Regional Banks
Financial Corp. (New) Sovereign Financials Thrifts & Mortgage
Bancorp Finance DELETED Regions Financials Regional Banks Financial
Corp. Union Planters Financials Regional Banks Corp. S&P MIDCAP
400 INDEX - TBA COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
ADDED AirTran Industrials Airlines Holdings INAMED Corp. Health
Care Health Care Equipment DELETED Sovereign Financials Thrifts
& Mortgage Bancorp Finance Provident Financials Regional Banks
Financial Group S&P SMALLCAP 600 INDEX - TBA COMPANY GICS
ECONOMIC SECTOR GICS SUB-INDUSTRY ADDED BankAtlantic Financials
Thrifts & Mortgage Bancorp Finance DELETED INAMED Corp. Health
Care Health Care 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. 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 leading global information
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leading brands such as Standard & Poor's, BusinessWeek and
McGraw-Hill Education. The Corporation has more than 280 offices in
40 countries. Sales in 2003 were $4.8 billion. Additional
information is available at http://www.mcgraw-hill.com/.
DATASOURCE: Standard & Poor's CONTACT: David M. Blitzer, Ph.D.
Managing Director & Chairman of the Index Committee (212)
438-3907 Web site: http://www.standardandpoors.com/
http://www.mcgraw-hill.com/
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