2014

FTD and Provident New York to Join S&P SmallCap 600

NEW YORK, Oct. 24, 2013 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P SmallCap 600 after the close of trading on Thursday, October 31:

  • FTD Companies Inc. (NASD: FTDDV) will replace United Online Inc. (NASD: UNTD). United Online is spinning off FTD in a deal expected to be completed on or about October 31 pending final conditions. Post spin-off, United Online's market capitalization is expected to be well below $200 million, whereas the minimum market capitalization necessary for inclusion in the S&P SmallCap 600 is currently $350 million.
  • Provident New York Bancorp (NYSE: PBNY) will replace Sterling Bancorp (NYSE: STL). Provident New York is acquiring Sterling in a deal expected to be completed on or about October 31 pending final approvals. Provident New York will change its name to Sterling Bancorp following completion of the merger.

FTD is a floral and gift products and services company. Headquartered in Downers Grove, IL, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Internet Retail Sub-Industry index.

Provident New York provides commercial, business, and consumer banking products and services. Headquartered in Montebello, NY, the company will be added to the S&P SmallCap 600 GICS Regional Banks Sub-Industry index.

Following is a summary of the changes:

S&P SMALLCAP 600 INDEX – October 31, 2013


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

FTD Companies

Consumer Discretionary

Internet Retail


Provident New York

Financials

Regional Banks

DELETED

United Online

Information Technology

Internet Software & Services


Sterling

Financials

Regional Banks

 

Additions to and deletions from S&P  Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.

Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

For more information:

Dave Guarino
Communications
S&P Dow Jones Indices
dave.guarino@spdji.com
(212) 438-1471

David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
david.blitzer@ spdji.com
(212) 438-3907

SOURCE S&P Dow Jones Indices



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