Market Overview

Global Payments Set to Join the S&P 500; GameStop to Join S&P MidCap 400; Chuy's Holdings and Krispy Kreme to Join SmallCap 600

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NEW YORK, April 19, 2016 /PRNewswire/ -- S&P Dow Jones Indices 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 Friday, April 22:

  • S&P MidCap 400 constituent Global Payments Inc. (NYSE: GPN) will replace GameStop Corp. (NYSE: GME) in the S&P 500, GameStop will replace Global Payments in the S&P MidCap 400, and Chuy's Holdings Inc. (NASD: CHUY) will replace Heartland Payment Systems Inc. (NYSE: HPY) in the S&P SmallCap 600. Global Payments is acquiring Heartland Payment Systems in a deal expected to be completed on or about April 22. Post-merger, Global Payment's market capitalization will be more representative of the large cap market space. GameStop is ranked near the bottom of the S&P 500 and has a market capitalization that is more representative of the mid-cap market space.

  • Krispy Kreme Doughnuts Inc. (NYSE: KKD) will replace Pinnacle Entertainment Inc. (NASD: PNK) in the S&P SmallCap 600. Pinnacle is spinning off its operations and certain of its real estate assets and the remaining assets will merge with another company effective later this month. Based on pro-forma financials, the spin-off company does not meet the financial viability criteria necessary to be considered for inclusion in the S&P SmallCap 600.

Global Payments provides payment solutions for credit cards, debit cards, electronic payments, and check-related services. Headquartered in Atlanta, GA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Data Processing & Outsourced Services Sub-Industry index.

GameStop operates as an omnichannel video game retailer. Headquartered in Grapevine, TX, the company will be added to the S&P MidCap 400 GICS Computer & Electronics Retail Sub-Industry index.

Chuy's Holdings owns and operates restaurants. Headquartered in Austin, TX, the company will be added to the S&P SmallCap 600 GICS Restaurants Sub-Industry index.

Krispy Kreme Doughnuts operates as a branded retailer and wholesaler of doughnuts. Headquartered in Winston-Salem, NC, the company will be added to the S&P SmallCap 600 GICS Restaurants Sub-Industry index.

Following is a summary of the changes:

 

S&P 500 INDEX – April 22, 2016


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Global Payments

Information Technology

Data Processing & Outsourced
Services

DELETED

GameStop

Consumer Discretionary

Computer & Electronic Retail


S&P MIDCAP 400 INDEX – April 22, 2016


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

GameStop

Consumer Discretionary

Computer & Electronic Retail

DELETED

Global Payments

Information Technology

Data Processing & Outsourced
Services


S&P SMALLCAP 600 INDEX – April 22, 2016


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Chuy's

Consumer Discretionary

Restaurants

DELETED

Heartland Payment Systems

Information Technology

Data Processing & Outsourced
Services


S&P SMALLCAP 600 INDEX – April 22, 2016


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Krispy Kreme

Consumer Discretionary

Restaurants

DELETED

Pinnacle
Entertainment

Consumer Discretionary

Casinos & Gaming

 

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.

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 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 1,000,000 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.

S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"), 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.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/global-payments-set-to-join-the-sp-500-gamestop-to-join-sp-midcap-400-chuys-holdings-and-krispy-kreme-to-join-smallcap-600-300254162.html

SOURCE S&P Dow Jones Indices

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