S&P 500 to Add ADT and Pentair LTD

by Christopher Freeburn | September 25, 2012 1:35 pm

The S&P 500 is shuffling its mix, with two companies joining the index[1] 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[2]) and DeVry Inc. (NYSE:DV[3]). Those companies will in turn join the S&P MidCap 400 list.

Lexmark will replace RadioShack (NYSE:RSH[4]) 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[5]). Pentair LTD will be formed from the combination of Pentair Inc. (NYSE:PNR[6]) and Tyco’s flow control business.

The spinoffs will be finalized by the end of this week.

Endnotes:
  1. two companies joining the index: http://www.cbsnews.com/8301-505245_162-57519575/adt-pentair-to-join-the-s-p-500/
  2. LXK: http://studio-5.financialcontent.com/investplace/quote?Symbol=LXK
  3. DV: http://studio-5.financialcontent.com/investplace/quote?Symbol=DV
  4. RSH: http://studio-5.financialcontent.com/investplace/quote?Symbol=RSH
  5. TYC: http://studio-5.financialcontent.com/investplace/quote?Symbol=TYC
  6. PNR: http://studio-5.financialcontent.com/investplace/quote?Symbol=PNR

Source URL: http://investorplace.com/2012/09/sp-500-to-add-adt-and-pentair-ltd/
Short URL: http://invstplc.com/1ftW4z0