S&P 500
7,401.00
+0.91%
Dow Jones
49,665.70
+0.19%
Nasdaq 100
29,241.00
+2.43%
Russell 2000
2,860.88
+0.82%
FTSE 100
10,263.70
+0.48%
Nikkei 225
63,767.70
+2.68%

Commodities & Metals

S&P Drops Patriot Coal from MidCap 400 Index (MHP, PCX, ALEX, MNST, SLE)

Photo of Paul Ausick
By Paul Ausick Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Invalid Image
Standard & Poor’s Indices, a division of the McGraw-Hill Companies (NYSE: MHP), has announced changes to two stock indexes that are scheduled to occur next week.

Patriot Coal Corp. (NYSE: PCX) is being dropped from the S&P MidCap 400 index and will be replaced by Alexander & Baldwin Inc., a spinoff from the existing Alexander & Baldwin Holdings Inc. (NYSE: ALEX), after the close of trading on June 29th. S&P tossed a little dirt in Patriot’s face as well:

Patriot Coal is currently ranked #400 in the MidCap 400 index and is no longer representative of the midcap market space.

Ouch.

Monster Beverage Corp. (NASDAQ: MNST) will replace Sara Lee Corp. (NYSE: SLE) in the S&P 500 index after the close of trading on June 28th. Sara Lee is spinning off its meat business into a new company to be called The Hillshire Brands Co., which will trade on the NYSE under the symbol ‘HSH’. Sara Lee is also spinning off its coffee & tea business on the same day. Hillshire will replace Monster on the S&P MidCap 400.

Patriot shares are down more than -10% at $1.23 in a 52-week range of $1.14-$24.99. The stock was hit again this morning on the news that Arch Coal Inc. (NYSE: ACI) is shuttering some of its coal operations.

Paul Ausick

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

Continue Reading

Jon C. Ogg |

Major S&P Index Changes Impacting Shares (MPC, RSH, HHS, HTCH, MRO, AMCXV, BYD, SRT, CVC, HOC, FTO, ENTR, GM)

We have some major changes announced by S&P for its three key indexes.  Changes are in the S&P 500 Index,…

Douglas A. McIntyre |

Time Warner, AOL & Others See Index Fund Activity (RBC, ALGT, AOL, TWX, AVCT, EMR)

Standard & Poor’s is making several index changes in the coming trading days.  While Regal Beloit Corp. (NYSE: RBC) and…

Jon C. Ogg |

Hillshire Brands Already Facing Accounting Irregularities & Restatement

The Hillshire Brands Company (NYSE: HSH) saw its trading halted today and it did not appear to be due to…

Paul Ausick |

24/7 Wall St. Closing Bell — August 8, 2012: Markets Get No Energy Today (CBST, RAX, TSLA, PAY, GRPN, DMD, GEVO, PCLN, SZYM, AONE, ANR, CG, CSC, DF, DISH, HFC, M, WFR, RL, AFFY, CTL, CLR, EDMC, JACK, KGC, MNST, AUY, AAP, AMCX, CDTI, HSH, JRCC, RGLD, WEN, DF, SIRI, OWW)

The three major US stock indexes opened lower this morning following on softness in European markets and a mixed close…

Paul Ausick |

24/7 Wall St. Closing Bell — June 22, 2012 (FB, GLW, KMB, ONXX, JEF, DRI, CCL, APOL, SNX, HNR, ARNA, PCX)

The three major US stock indexes opened higher this morning as markets treated the Moody’s downgrade of 15 major banks…

Paul Ausick |

Patriot Coal Replaces CEO, Shuffles Management

The recent troubles at Patriot Coal Corp. (NYSE: PCX) have reflected the problems the entire coal mining industry faces in…

Paul Ausick |

S&P 500 Waves Goodbye to J.C. Penney on Black Friday

courtesy J.C. Penney Co. Inc.Standard & Poor’s on Friday announced that J.C. Penney Co. Inc. (NYSE: JCP) is getting booted…

Douglas A. McIntyre |

Implications of Major S&P Component Changes (MJN, MBI, V, CIEN, CLF, DYN, KBH, GMCR, BTH, CHP, CVG, ROST, CLF, SNH, ATW, DY, KELYA, ELY)

Standard & Poor’s often makes S&P index changes for the S&P 500, the S&P Mid-Cap 400 and the S&P Small…

Paul Ausick |

Tyson Wins Hillshire for $8.55 Billion

The bidding was fast and furious, and from the point of view of Hillshire Brands, very satisfying. Tyson Foods announced…

Top Gaining Stocks

Akamai
AKAM • Vol: 21,556,944
Micron Technology
MU • Vol: 65,135,624
Intel
INTC • Vol: 227,504,426
Monster Beverage
MNST • Vol: 15,284,847
Dell Technologies
DELL • Vol: 12,167,525

Top Losing Stocks

Mettler Toledo International
MTD • Vol: 539,266
Motorola Solutions
MSI • Vol: 3,101,643
Expedia
EXPE • Vol: 4,189,786
Coterra Energy
CTRA • Vol: 73,319,495
Fidelity National Information Services
FIS • Vol: 11,468,820