Standard & Poor’s said late yesterday it is updating the market cap guidelines for its U.S. indices. The firm also announced some shifts in index components.
The new guidelines require that companies in the S&P 500 have total market capitalizations of $4 billion or more.
S&P MidCap 400 companies will have market caps of $1 billion to $4.4 billion, and S&P SmallCap 600 components will have market caps of $300 million to $1.4 million.
S&P said B&G Foods (NYSE:BGS) will replace Compellent Technologies (CML) in the S&P SmallCap 600 after the close of trading February 22, because Compellent is being acquired by Dell (DELL).
Joy Global (JOYG) will replace Allegheny Energy (AYE) in the S&P 500, once Allegheny’s acquisition by FirstEnergy (NYSE:FE) is approved.
Cypress Semiconductor (NASDAQ:CY) will then replace Joy Global in the S&P MidCap 400, and Cardtronics (NASDAQ:CATM) will replace Cypress in the SmallCap 600. The changes will take place after the close of trading on a date to be announced following the final approvals of the Allegheny deal.
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