A global company with a strong presence in central Indiana will replace retailer J.C. Penney Co. Inc. (NYSE: JCP) in the S&P 500. S&P Dow Jones Indices says Allegion plc (NYSE: ALLEwi) will be included in the index following the close of trading Friday. The $2 billion security company is a spinoff of Ingersoll-Rand plc (NYSE: IR) and its North American headquarters is in Carmel. November 26, 2013
NEW YORK, N.Y. – 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:
-Allegion plc (NYSE:ALLEwi) will replace J. C. Penney Company Inc. (NYSE:JCP) in the S&P 500, J. C. Penney will replace A?ropostale Inc. (NYSE:ARO) in the S&P MidCap 400, and A?ropostale will replace Corinthian Colleges Inc. (NASD:COCO) in the S&P SmallCap 600 after the close of trading on Friday, November 29. S&P 500 constituent Ingersoll-Rand plc (NYSE:IR) is spinning off Allegion to shareholders in a transaction expected to be effective after the close of trading on that date. Ingersoll-Rand will remain in the S&P 500 after the spin-off. J. C. Penney’s and A?ropostale’s market capitalizations are now more representative of the mid cap market and small cap market spaces respectively. Corinthian Colleges’ low stock price and market capitalization make it no longer suitable for the S&P SmallCap 600.
-Anika Therapeutics Inc. (NASD:ANIK) will replace Symmetricom Inc. (NASD:SYMM) in the S&P SmallCap 600 after the close of trading on Tuesday, November 26. S&P SmallCap 600 constituent Microsemi Corp. (NASD:MSCC) is acquiring Symmetricom in a deal expected to be completed soon pending final approvals.
Allegion is a provider of mechanical and electronic security products. Headquartered in Dublin, Ireland, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Building Products Sub-Industry index.
J. C. Penney is an apparel and home furnishing retailer. Headquartered in Plano, TX, the company will be added to the S&P MidCap 400 GICS Department Stores Sub-Industry index.
A?ropostale is a specialty retailer of casual apparel and accessories. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Apparel Retail Sub-Industry index.
Anika Therapeutics develops, manufactures, and commercializes therapeutic products for tissue protection, healing, and repair. Headquartered in Bedford, MA, the company will be added to the S&P SmallCap 600 GICS Health Care Supplies Sub-Industry index.
Source: S&P Dow Jones Indices