Standard & Poor's Announces Changes in S&P MidCap 400, S&P SmallCap 600 Indices
NEW YORK, Aug. 1 /PRNewswire/ -- Standard & Poor's will make the following changes in the S&P MidCap 400 and S&P SmallCap 600 Indices after the close of trading on Wednesday, August 2, 2000:
- Credence Systems (Nasdaq: CMOS - news) will replace COMSAT Corp. (NYSE: CQ - news) in
the S&P MidCap 400 Index. COMSAT Corp. is being acquired by S&P 500
component Lockheed Martin in a transaction anticipated to close on that
date.
- GBC Bancorp (Nasdaq: GBCB - news) will replace Komag Inc. (Nasdaq: KMAG - news) in the
S&P SmallCap 600 Index. Komag Inc. is being removed for lack of
representation.
Credence Systems is a leader in the manufacture of automatic test equipment for the global semiconductor industry, offering products with test capabilities for digital, mixed-signal, and memory semiconductors. The company, headquartered in Fremont, CA, will be added to the S&P MidCap 400 Equipment (Semiconductor) industry group.
GBC Bancorp is the parent company of General Bank, with total assets of $1.9 billion, operating 17 branches in California and one branch in Seattle as well as a loan production office in New York City. The company, headquartered in Los Angeles, CA, will be added to the S&P SmallCap 600 Banks (Regional) industry group.
Following is a summary of the announced changes:
S&P MIDCAP 400 INDEX-August 2, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Credence Systems Technology Equipment (Semiconductor)
DROPPED COMSAT Corp. Communications Services Telecommunications
(Cellular/Wireless)
S&P SMALLCAP 600 INDEX-August 2, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED GBC Bancorp Financial Banks (Regional)
DROPPED Komag Inc. Technology Computers (Peripherals)
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 www.mcgraw-hill.com.
SOURCE: Standard & Poor's |
