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

Dec 22, 2010, 17:52 ET from Standard & Poor's

NEW YORK, Dec. 22, 2010 /PRNewswire/ -- S&P will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indices after the close of trading on Monday, January 3, 2011:

Motorola Mobility Holdings Inc. (NYSE: MMI) will replace Meredith Corp.  (NYSE: MDP) in the S&P 500 index, Meredith will replace Cincinnati Bell Inc. (NYSE: CBB)  in the S&P MidCap 400 index, and Cincinnati Bell will replace Penford Corp. (NASD: PENX) in the S&P SmallCap 600 index. S&P 500 constituent Motorola (NYSE: MOT) is spinning off Motorola Mobility Holdings to its shareholders in a transaction expected to be completed after the market close on or about that date. The Motorola stub will remain in the S&P 500 index following the spin-off. Meredith's $1.6 billion market capitalization, and Cincinnati Bell's $480 million market capitalization, make these two companies more representative of the mid cap and small cap space, respectively. Penford, with a market capitalization of less than $80 million, ranks 600th in the S&P Small Cap 600 index.

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

Motorola Mobility Holdings provides technologies, products, and services that enable mobile and wireline, digital communication, information, and entertainment experiences. Headquartered in Libertyville, IL, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Communications Equipment Sub-Industry index.  

Meredith is a media and marketing company. Headquartered in Des Moines, IA, the company will be added to the S&P MidCap 400 GICS Publishing Sub-Industry index.  

Cincinnati Bell provides data and voice communications services. Headquartered in Cincinnati, OH, the company will be added to the S&P SmallCap 600 GICS Integrated Telecommunication Services Sub-Industry index.

Following is a summary of the changes:

S&P  500 INDEX  – January 3, 2011

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Motorola Mobility

Information Technology

Communications Equipment

DELETED

Meredith

Consumer Discretionary

Publishing

S&P  MIDCAP 400 INDEX  – January 3, 2011

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Meredith

Consumer Discretionary

Publishing

DELETED

Cincinnati Bell

Telecommunication Services

Integrated Telecommunication Services

S&P  SMALLCAP 600 INDEX  – January 3, 2011

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Cincinnati Bell

Telecommunication Services

Integrated Telecommunication Services

DELETED

Penford Corp.

Materials

Diversified Chemicals

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

About S&P Indices

S&P Indices, the world's leading index provider, maintains a wide variety of investable and benchmark indices to meet an array of investor needs. 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.

For more information contact:

David M. Blitzer, Ph.D.

Managing Director & Chairman of the Index Committee

(212) 438-3907

SOURCE Standard & Poor's



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