S&P Loosens Index's Market Cap Rules, Adds McAfee To S&P 500
"Standard & Poor's feels that the new market cap ranges for its U.S. indices are appropriate, based on our review of recent market activity, comments from index users and the current U.S. market cap distribution," said David Blitzer, managing director and chairman of the index committee.
The firm lowered the minimum market cap for the key S&P 500 index to $3 billion from $4 billion. The range of caps in the S&P MidCap 400 is now $750 million to $3.3 billion, while the SmallCap 600's range is now $200 million to $1 billion.
The guidelines refer to a company's total market cap, not its float-adjusted cap.
In addition, the company added S&P 400 component McAfee Inc. (MFE) to the S&P 500, where it will replace Barr Pharmaceuticals Inc. (BRL). Barr is being acquired by Teva Pharmaceuticals Industries Ltd. (TEVA).
-By Jay Miller, Dow Jones Newswires; 201-938-2331; jay.miller@dowjones.com
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Publié le 18 Décembre 2008 Copyright © 2008 Dowjones
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