S&P 500 to Add ADT and Pentair LTD
Lexmark and DeVry will move to S&P MidCap 400
The S&P 500 is shuffling its mix, with two companies joining the index and two others departing.
Joining the S&P 500 are home and business security service provider ADT and industrial equipment maker Pentair LTD, CBS News noted.
Leaving the list will be computer printer maker Lexmark International (NYSE:LXK) and DeVry Inc. (NYSE:DV). Those companies will in turn join the S&P MidCap 400 list.
Lexmark will replace RadioShack (NYSE:RSH) on the S&P MidCap 400 list. S&P officials indicated that RadioShack’s current market capitalization is insufficient to remain on the S&P 1500 list.
The changes will go into effect after the close of trading on Friday.
ADT is in the process of separating from Tyco International (NYSE:TYC). Pentair LTD will be formed from the combination of Pentair Inc. (NYSE:PNR) and Tyco’s flow control business.
The spinoffs will be finalized by the end of this week.
Article printed from InvestorPlace Media, http://investorplace.com/2012/09/sp-500-to-add-adt-and-pentair-ltd/.
©2013 InvestorPlace Media, LLC