NEW YORK, Feb. 21, 2019 /PRNewswire/ -- S&P MidCap 400
constituent Wabtec Corp. (NYSE: WAB) will replace The Goodyear Tire & Rubber Co. (NASD: GT) in the S&P 500, and The
Goodyear Tire & Rubber will replace Wabtec in the S&P MidCap 400 effective prior to the open of trading on Wednesday February 27. S&P 500 and 100 constituent General Electric Co. (NYSE: GE) is spinning off its
holdings of Transportation Systems Holdings Inc. to shareholders. Immediately following the distribution, Transportation Systems
Holdings is being acquired by Wabtec in a transaction expected to be completed on February 26,
pending final conditions. After the transaction, Wabtec will be more representative of the large-cap market space. Goodyear Tire
& Rubber is more representative of the mid-cap market space. General Electric will remain in the S&P 500 and 100.
Wabtec manufactures and supplies technology-based products and components for freight and passenger rail, transit, power
generation, off-highway equipment and industrial markets. Headquartered in Wilmerding, PA, the
company will be added to the S&P 500 Global Industry Classification Standard (GICS) Construction Machinery & Heavy Trucks
Sub-Industry index.
Goodyear Tire & Rubber develops, manufactures, distributes and sells tires and related products. Headquartered in
Akron, OH, the company will be added to the S&P MidCap 400 GICS Tires & Rubber
Sub-Industry index.
Following is a summary of the changes:
|
S&P 500 INDEX – February 27, 2019
|
|
COMPANY
|
GICS ECONOMIC SECTOR
|
GICS SUB-INDUSTRY
|
|
ADDED
|
Wabtec
|
Industrials
|
Construction Machinery & Heavy Trucks
|
|
DELETED
|
Goodyear Tire & Rubber
|
Consumer Discretionary
|
Tires & Rubber
|
|
S&P MIDCAP 400 INDEX – February 27, 2019
|
|
COMPANY
|
GICS ECONOMIC SECTOR
|
GICS SUB-INDUSTRY
|
|
ADDED
|
Goodyear Tire & Rubber
|
Consumer Discretionary
|
Tires & Rubber
|
|
DELETED
|
Wabtec
|
Industrials
|
Construction Machinery & Heavy Trucks
|
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