MCGRAW HILL FINANCIAL INC 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 Consumer Discretionary Casinos & Gaming
Entertainment
--- -------------
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
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