S&P Index Change Candidates (DWA, HS, GMCR, FBTX, MLNM)
We have seen several announcements out of Standard & Poors regarding index changes today, with the effective dates as follows: DreamWorks Animation SKG Inc. (NYSE: DWA) will now replace Millennium Pharmaceuticals Inc. (NASDAQ: MLNM) in the S&P MidCap 400 after…
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We have seen several announcements out of Standard & Poors regarding index changes today, with the effective dates as follows:
- DreamWorks Animation SKG Inc. (NYSE: DWA) will now replace Millennium Pharmaceuticals Inc. (NASDAQ: MLNM) in the S&P MidCap 400 after the close of trading on Thursday, May 8, as Millennium’s acquisition by Takeda is expected to close on or about that date.
- HealthSpring Inc. (NYSE: HS) will now replace Franklin Bank Corp. (NASDAQ: FBTX) in the S&P SmallCap 600 after the close on Wednesday, May 7…. Franklin has a market cap of a mere $26 million and has the 600th worst weighting in the index.
- Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) will replace Matria Healthcare Inc. (NASDAQ: MATR) in the S&P SmallCap 600 on a T.B.A. basis, pending Inverness Medical Innovations (AMEX: IMA) final approvals to acquire Matria.
As a reminder, traders that look at index additions and deletions generally like to focus on stocks that are coming in fresh into the S&P that were not a member of the S&P 1500 comprised of small-cap, mid-cap, and 500-Index members already.
Jon C, Ogg
May 5, 2008
Contact [email protected] for any questions or corrections.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
