Valvoline Set to Join S&P MidCap 400; Noble, Lantheus and MaxLinear to Join S&P SmallCap 600

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NEW YORK, May 8, 2017 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:

  • Valvoline Inc. VVV will replace Noble Corp. plc NE in the S&P MidCap 400, and Noble will replace Celadon Group Inc. CGI in the S&P SmallCap 600 effective prior to the open on Tuesday, May 16. S&P MidCap 400 constituent Ashland Global Holdings Inc. ASH is spinning off its remaining stake in Valvoline in a transaction expected to be completed prior to the open on Monday, May 15, pending final conditions. Ashland Global will remain in the S&P MidCap 400 post the spin-off transaction. Noble is ranked at the bottom of the S&P MidCap 400 and is no longer representative of the mid-cap market space. Celadon is ranked near the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.
  • MaxLinear Inc. MXL will replace Exar Corp. EXAR in the S&P SmallCap 600 effective prior to the open on Monday, May 15. MaxLinear is acquiring Exar in a deal expected to be completed on or about that date, pending final conditions.
  • Lantheus Holdings Inc. LNTH will replace Tidewater Inc. TDW in the S&P SmallCap 600 effective prior to the open on Tuesday, May 16. Tidewater is ranked at the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.

Valvoline Inc. manufactures and markets automotive and industrial lubricants. Headquartered in Lexington, KY, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Commodity Chemicals Sub-Industry index.

Noble Corporation plc operates as an offshore drilling contractor for the oil and gas industry. Headquartered in London, UK, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Drilling Sub-Industry index.

MaxLinear provides radio-frequency and mixed-signal circuits for broadband communications, data center, metro, and long-haul transport network applications. Headquartered in Carlsbad, NY, the company will be added to the S&P SmallCap 600 GICS Semiconductors Sub-Industry index.

Lantheus Holdings develops, manufactures, and commercializes diagnostic medical imaging agents and products for the diagnosis and treatment of cardiovascular and other diseases. Headquartered in North Billerica, MA, the company will be added to the S&P SmallCap 600 GICS Health Care Supplies Sub-Industry index.

Following is a summary of the changes:

S&P SMALLCAP 600 INDEX – May 15, 2017


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

MaxLinear

Information Technology

Semiconductors

DELETD

Exar

Information Technology

Semiconductors

 

 

S&P MIDCAP 400 INDEX – MAY 16, 2017


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Valvoline

Materials

Commodity Chemicals

DELETED

Noble

Energy

Oil & Gas Drilling

 

 

S&P SMALLCAP 600 INDEX – May 16, 2017


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Noble

Energy

Oil & Gas Drilling


Lantheus

Health Care

Health Care Supplies

DELETED

Celadon

Industrials

Trucking


Tidewater

Energy

Oil & Gas Equipment &
Services

 

For more information about S&P Dow Jones Indices, please visit www.spdji.com

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than based on any other provider in the world. With over 1,000,000 indices and more than 120 years of experience constructing innovative and transparent solutions, S&P Dow Jones Indices defines the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global SPGI, which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.

FOR MORE INFORMATION:

Soogyung Jordan
Global Head of Communications 
New York, USA
(+1) 212 438 2297
soogyung.jordan@spglobal.com

David Blitzer
Managing Director and Chairman of the Index Committee 
New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/valvoline-set-to-join-sp-midcap-400-noble-lantheus-and-maxlinear-to-join-sp-smallcap-600-300453602.html

SOURCE S&P Dow Jones Indices

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