Standard & Poor's Announces Changes in S&P Indices
NEW YORK, May 25 /PRNewswire/ -- Standard & Poor's will make
the following changes in the S&P 500 and S&P MidCap 400 Indices:
* Agilent Technologies (NYSE: A - news) will replace NACCO Industries (NYSE: NC - news) in the S&P 500 Index after the close of trading on Friday, June 2, 2000. S&P 500 component Hewlett-Packard (NYSE: HWP - news) is spinning off its 84% stake in Agilent Technologies to HWP shareholders in a transaction scheduled for that date. NACCO Industries is being removed for lack of representation.
* S&P MidCap 400 component Sanmina Corp. (Nasdaq: SANM - news) will replace Warner-Lambert (NYSE: WLA - news) in the S&P 500 Index on a date to be announced. S&P 500 component Pfizer Inc. (NYSE: PFE - news) is acquiring Warner-Lambert. The transaction is still subject to U.S. Federal Trade Commission approval. Quest Diagnostics (NYSE: DGX - news) will replace Sanmina Corp. in the S&P MidCap 400 Index.
Agilent Technologies is a global leader in designing and manufacturing test, measurement and monitoring instruments, systems and solutions,
and semiconductor and optical components. The company, headquartered in Palo Alto, CA, will be added to the S&P 500 Electronics (Instrumentation) industry group.
Sanmina Corp. is a leading electronics contract manufacturing services company providing a full spectrum of integrated, value-added electronic manufacturing services. The company, headquartered in San Jose, CA, will be added to the S&P 500 Electrical Equipment industry group.
Quest Diagnostics is a leading provider of diagnostic testing, information and services to physicians, hospitals, managed care organizations, employers, and government agencies. The company, headquartered in Teterboro, NJ, will be added to the S&P MidCap 400 Health Care (Specialized Services) industry group.
Following is a summary of the announced changes:
S&P 500 INDEX - June 2, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Agilent Technologies Technology Electronics
(Instrumentation)
DROPPED NACCO Industries Capital Goods Machinery (Diversified)
S&P 500 INDEX - TBA
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Sanmina Corp. Capital Goods Electrical Equipment
DROPPED Warner-Lambert Health Care Health Care (Diversified)
S&P MID 400 INDEX - TBA
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Quest Diagnostics Health Care Health Care
(Specialized Services)
DROPPED Sanmina Corp. Capital Goods Electrical Equipment
Company additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the company.
Standard & Poor's, a division of The McGraw-Hill Companies, Inc., provides financial, economic and investment information and analytical services to the global financial community. S&P calculates and maintains the S&P Global 1200 Index, which includes the S&P Europe 350, the S&P/TSE 60 for Canada, the S&P 500 for the U.S., the S&P/TOPIX for Japan, the S&P Asia/Pacific 100, and the S&P Latin America 40. S&P also publishes the S&P MidCap 400, S&P SmallCap 600, S&P SuperComposite 1500 and S&P REIT Composite for the U.S. and the S&P/TSE Canadian MidCap and S&P/TSE Canadian SmallCap Indices. Over $1 trillion is indexed to S&P Indices.
Founded in 1888, The McGraw-Hill Companies is a global information services provider serving the financial services, education and business information markets through leading brands such as Standard & Poor's, Business Week and the McGraw-Hill educational imprint. The corporation has more than 400 offices in 32 countries. Sales in 1999 were $4 billion. Additional information is available at mcgraw-hill.com.
SOURCE: Standard & Poor's
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