S and P 400 and 600 additions
NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact:
David Blitzer
Managing Director, Quantitative Services
(212) 438-3907
OR
Carol Levine
Communications Manager, Index Services
(212) 438-3534
STANDARD & POOR'S ANNOUNCES CHANGES IN S&P INDICES
New York, N.Y., August 21, 2000 -- Standard & Poor's will make the following changes in the S&P MidCap 400 and S&P SmallCap 600 Indices:
DSP Group (NASDAQ:DSPG) will replace Burr-Brown Corp. (NASDAQ:BBRC) in the S&P MidCap 400 Index after the close of trading on Thursday, August 24, 2000. S&P 500 component Texas Instruments (NYSE:TXN) is acquiring Burr-Brown in a transaction anticipated to close on that date. The transaction is still subject to shareholder approval.
Patina Oil & Gas (NYSE:POG) will replace Harmon Industries (NASDAQ:HRMN) in the S&P SmallCap 600 Index on a date to be announced. S&P 500 component General Electric (NYSE:GE) is acquiring Harmon Industries. The transaction is still subject to regulatory approval.
DSP Group develops and markets products and technologies that perform digital signal processing, the electronic manipulation of digitized speech and other digital signals, for use in a variety of telecom applications. The company, headquartered in Santa Clara, CA, will be added to the S&P MidCap 400 Electronics (Semiconductors) industry group.
Patina Oil & Gas is an independent energy company engaged in the acquisition, development, exploitation and production of oil and gas properties. The company, headquartered in Denver, CO, will be added to the S&P SmallCap 600 Oil & Gas (Exploration & Production) industry group.
Following is a summary of the announced changes:
S&P MIDCAP 400 INDEX—August 24, 2000
COMPANY
ECONOMIC SECTOR
INDUSTRY GROUP
ADDED
DSP Group
Technology
Electronics (Semiconductors)
DROPPED
Burr-Brown Corp.
Technology
Electronics (Semiconductors)
S&P SMALLCAP 600 INDEX—TBA
COMPANY
ECONOMIC SECTOR
INDUSTRY GROUP
ADDED
Patina Oil & Gas
Energy
Oil & Gas (Exploration
& Production)
DROPPED
Harmon Industries
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. |
