NEW YORK, July 17, 2015 /PRNewswire/ -- S&P SmallCap 600 constituent NetScout Systems Inc. (NASD: NTCT) will replace Tidewater Inc. (NYSE: TDW) in the S&P MidCap 400, and Tidewater will replace NetScout Systems in the S&P SmallCap 600 after the close of trading on Friday, July 24. NetScout Systems recently completed the acquisition of S&P 500 constituent Danaher Corp.'s (NYSE: DHR) communications business making NetScout Systems' post transaction market capitalization more representative of the mid-cap market space. Tidewater has a market capitalization more representative of the small-cap market space.
NetScout Systems designs, develops, manufactures, markets, licenses, sells, and supports network, application, and service assurance solutions. Headquartered in Westford, MA , the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Communications Equipment Sub-Industry index.
Tidewater provides offshore service vessels and marine support services. Headquartered in New Orleans, LA, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index.
Following is a summary of the changes:
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S&P MIDCAP 400 INDEX – July 24, 2015
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COMPANY
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GICS ECONOMIC SECTOR
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GICS SUB-INDUSTRY
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ADDED
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NetScout Systems
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Information Technology
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Communications Equipment
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DELETED
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Tidewater
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Energy
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Oil & Gas Equipment & Services
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S&P SMALLCAP 600 INDEX – July 24, 2015
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COMPANY
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GICS ECONOMIC SECTOR
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GICS SUB-INDUSTRY
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ADDED
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Tidewater
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Energy
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Oil & Gas Equipment & Services
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DELETED
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NetScout Systems
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Information Technology
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Application Software
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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.
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