Standard & Poor’s accomplishes several additions and deletions to S&P MidCap 400 and S&P SmallCap 600 indices:
Clearwater Paper Corp. will replace PharmaNet Development Group Inc. in the S&P SmallCap 600 after the close of trading on Tuesday, 16 December. S&P MidCap 400 and S&P REIT Composite constituent Potlatch Corp. is spinning off Clearwater Paper in a transaction expected to be completed on or about that date. As of today’s close, PharmaNet Development Group had a market capitalization of approximately $17 million, ranking it 600th in the index.
Masimo Corp. will replace PDL BioPharma Inc. in the S&P MidCap 400 after the close of trading on Thursday, 18 December. PDL BioPharma is spinning off its biotechnology operations in a transaction expected to be completed on or about that date. After the spin-off, PDL BioPharma will no longer be representative of the U.S. mid-cap space.
Clearwater Paper is a pulp-based manufacturing company. Headquartered in Spokane, WA, the company will be added to the S&P SmallCap 600 GICS Paper Products Sub-Industry index.
Masimo is a medical technology company. Headquartered in Irvine, CA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Health Care Equipment Sub-Industry index.
L.D.