Standard & Poor's Announces Changes to U.S. Indices

NEW YORK, Dec. 9, 2010 /PRNewswire/ -- S&P will make the following changes to the S&P 500, S&P MidCap 400 and SmallCap 600 Indices after the close of trading on Friday, December 17:

• Cablevision Systems Corp. (NYSE: CVC) will replace King Pharmaceuticals Inc. (NYSE: KG) in the S&P 500. S&P 100 & 500 constituent Pfizer Inc. (NYSE: PFE) is acquiring King Pharmaceuticals in a deal expected to be completed soon, pending final approvals.
• Three S&P 500 constituents will switch places with three S&P MidCap 400 constituents, and three S&P MidCap 400 constituents will switch places with three S&P SmallCap 600 constituents. These transfers will make each index more representative of its market capitalization range; the companies moving to the S&P 500 all have market caps above $7 billion, the companies moving to the S&P MidCap 400 all have market caps between $1 billion and $3.5 billion, and the companies moving to the S&P SmallCap 600 all have market caps below $500 million. The transfers will be as follows:

S&P MidCap 400 constituents F5 Networks Inc. (Nasdaq: FFIV), Netflix Inc. (Nasdaq: NFLX) and Newfield Exploration Co. (NYSE: NFX) will replace The New York Times Co. (NYSE: NYT), Office Depot Inc. (NYSE: ODP) and Eastman Kodak Co. (NYSE: EK) in the S&P 500, and, likewise, The New York Times, Office Depot and Eastman Kodak will replace F5 Networks, Netflix and Newfield Exploration in the S&P MidCap 400 index.

S&P SmallCap 600 constituents SM Energy Co. (NYSE: SM), Concur Technologies Inc. (Nasdaq: CNQR) and East West Bancorp Inc. (Nasdaq: EWBC) will replace Corinthian Colleges Inc. (Nasdaq: COCO), Wilmington Trust Corp. (NYSE: WL) and Coldwater Creek Inc. (Nasdaq: CWTR) in the S&P MidCap 400, and likewise, Corinthian Colleges, Wilmington Trust and Coldwater Creek will replace SM Energy, Concur Technologies and East West Bancorp in the S&P SmallCap 600 index.

Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.

Cablevision Systems operates as a telecommunications, media, and entertainment company. Headquartered in Bethpage, NY, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Cable & Satellite Sub-Industry index.  

F5 Networks Inc. provides technology that optimizes the delivery of network-based applications. Headquartered in Seattle, WA, the company will be added to the S&P 500 GICS Communications Equipment Sub-Industry index.

Netflix provides online movie rental subscription services.  Headquartered in Los Gatos, CA, the company will be added to the S&P 500 Internet Retail Sub-Industry index.  

Newfield Exploration engages in the exploration, development, and acquisition of natural gas and crude oil properties.  Headquartered in Houston, TX, the company will be added to the S&P 500 GICS Oil & Gas Exploration & Production Sub-Industry index.

The New York Times operates as a diversified media company.  Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS Publishing Sub-Industry index.

Office Depot supplies a range of office products and services. Headquartered in Boca Raton, FL, the company will be added to the S&P MidCap 400 GICS Specialty Stores Sub-Industry index.  

Eastman Kodak provides imaging technology products and services to the photographic and graphic communications markets. Headquartered in Rochester, NY, the company will be added to the S&P MidCap 400 GICS Photographic Products Sub-Industry index.

SM Energy engages in the acquisition, exploration, development, and production of natural gas and crude oil. Headquartered in Denver, CO, the company will be added to the S&P MidCap 400 GICS Oil & Gas Exploration & Production Sub-Industry index.

Concur Technologies provides on-demand employee spend management solutions. Headquartered in Redmond, WA, the company will be added to the S&P MidCap 400 GICS Application Software Sub-Industry index.

East West Bancorp provides various banking and financial services. Headquartered in Pasadena, CA, the company will be added to the S&P MidCap 400 GICS Regional Banks Sub-Industry index.

Corinthian Colleges is a post-secondary education company. Headquartered in Santa Ana, CA, the company will be added to the S&P SmallCap 600 GICS Education Services Sub-Industry index.

Wilmington Trust provides various banking and financial services. Headquartered in Wilmington, DE, the company will be added to the S&P SmallCap 600 GICS Regional Banks Sub-Industry index.

Coldwater Creek operates as a multi-channel specialty retailer. Headquartered in Sandpoint, ID, the company will be added to the S&P SmallCap 600 GICS Apparel Retail Sub-Industry index.

Following is a summary of the changes:

For more information about S&P Indices, please visit www.standardandpoors.com/indices.

About S&P Indices

S&P Indices, a part of McGraw-Hill Financial, is the world's leading index provider maintaining a wide variety of investable and benchmark indices. Over $1.25 trillion is directly indexed to Standard & Poor's family of indices, which includes the S&P 500, the world's most followed stock market index, the S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, the S&P Global BMI, an index with approximately 11,000 constituents, the S&P GSCI, the industry's most closely watched commodities index, and the S&P National AMT-Free Municipal Bond Index, the premier investable index for U.S. municipal bonds. For more information, please visit www.standardandpoors.com/indices.

About McGraw-Hill Financial

McGraw-Hill Financial, a part of The McGraw-Hill Companies (NYSE: MHP), is a leading provider of research and analytical tools for investment advisors, wealth managers and institutional investors. It deploys the latest innovative technology strategies to deliver to customers a portfolio of cross-asset analytics, integrated desktop services, valuation and index benchmarks and investment recommendations in the rapidly growing $16 billion financial information, data and analytics market.

SOURCE Standard & Poor's