Biz News:>>>Broadcom Corporation Added to S&P 500 Index...
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Monday June 19, 5:51 pm Eastern Time
Company Press Release
SOURCE: Standard & Poor's
NEW YORK, June 19 /PRNewswire/ -- Standard & Poor's will replace GTE Corp. (NYSE: GTE - news) in the S&P 500 Index with Broadcom Corporation (Nasdaq: BRCM - news) after the close of trading on a date to be announced. S&P 500 component Bell Atlantic is acquiring GTE Corp. Bell Atlantic will spin-off GTE's Internet unit, Genuity, coinciding with the completion of the merger.
Broadcom Corporation is a provider of highly integrated silicon solutions that enable broadband digital transmission of voice, video and data to and throughout the home and within the business enterprise. The company, headquartered in Irvine, California, will be added to the S&P 500 Equipment (Semiconductors) industry group.
Following is a summary of the announced changes:
S&P 500 INDEX-TBA
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Broadcom Corporation Technology Equipment (Semiconductors)
DROPPED GTE Corp. Communication Services Telephone
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 McGraw-Hill Education. The corporation has more than 400 offices in 32 countries. Sales in 1999 were $4.0 billion. Additional information is available at mcgraw-hill.com.
SOURCE: Standard & Poor's<<< |
