Not directly related to AMAT, but fund managers will now have to buy Lam and possibly take a good hard look at the values in this sector as compared to other tech names out there.
Lam added to S&P MidCap 400 Index:
www2.marketwatch.com{336FCEA5-43AD-499E-8BC4-65322F03F89F}
Standard & Poor's Announces Changes in S&P Indices
MONDAY, SEPTEMBER 25, 2000 5:48:00 PM EST
NEW YORK, Sep 25, 2000 /PRNewswire via COMTEX/ -- Standard & Poor's will make the following changes in the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indices:
-- Avaya Inc. AV will replace Owens-Corning OWC in the S&P
500 Index after the close of trading on Friday, September 29, 2000.
S&P 500 component Lucent Technologies LU is spinning off Avaya
Inc. to LU shareholders. Owens Corning is being removed for lack of
representation.
-- S&P MidCap 400 component Dynegy Inc. DYN will replace BestFoods
Inc. BFO in the S&P 500 Index after the close of trading on
Monday, October 2, 2000. S&P 500 component Unilever N.V. UN is
acquiring BestFoods Inc. in a transaction anticipated to close on that
date. The transaction is still subject to shareholder and European
Union Commission approval. Lam Research LRCX will replace
Dynegy Inc. in the S&P MidCap 400 Index.
-- SPSS Inc. SPSS will replace WHX Corp. WHX in the S&P
SmallCap 600 Index after the close of trading on Tuesday, September 26,
2000. WHX Corp. is being removed for lack of representation.
Avaya Inc. is a leading provider of communications systems for enterprises, offering voice, converged voice and data, customer relationship management, messaging, multi-service networking and structured cabling products and services. The company, headquartered in Basking Ridge, NJ, will be added to the S&P 500 Computers (Networking) industry group. Dynegy Inc. is a leading marketer of energy products and services, providing energy solutions to customers primarily in North America and the United Kingdom. The company, headquartered in Houston, TX, will be added to the S&P 500 Natural Gas industry group.
Lam Research is a leading supplier of front-end wafer processing equipment and services to the worldwide semiconductor manufacturing industry. The company, headquartered in Fremont, CA, will be added to the S&P MidCap 400 Equipment (Semiconductor) industry group.
SPSS Inc. is a software company that provides statistical product and service solutions for marketing, quality improvement, scientific research, government, and education. The company, headquartered in Chicago, IL, will be added to the S&P SmallCap 600 Computers (Software & Services) industry group.
Following is a summary of the announced changes:
S&P 500 INDEX-September 29, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Avaya Inc. Technology Computers (Networking)
DROPPED Owens Corning Consumer Cyclicals Building Materials
S&P 500 INDEX- October 2, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Dynegy Inc. Utilities Natural Gas
DROPPED BestFoods Inc. Consumer Staples Foods
S&P MIDCAP 400 INDEX- October 2, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
ADDED Lam Research Technology Equipment (Semiconductor)
DROPPED Dynegy Inc. Utilities Natural Gas
S&P SMALLCAP 600 INDEX- September 26, 2000
COMPANY ECONOMIC SECTOR INDUSTRY GROUP
Computers
ADDED SPSS Inc. Technology (Software & Services)
DROPPED WHX Corp. Basic Materials Iron & Steel
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 MHP, provides independent financial information, analytical services, and credit ratings to the world's financial markets. Among the company's many products are the S&P Global 1200, the world's first global, equity, real time index; the S&P 500, the premier U.S. portfolio index; and credit ratings on more than 220,000 securities and funds worldwide. With more than 5,000 employees located in 21 countries, Standard & Poor's is an integral part of the global financial infrastructure.
SOURCE Standard & Poor's |
