NEW YORK, April 27, 2020 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 effective prior to the open of trading on Friday, May 1:
- Enphase Energy Inc. (NASD:ENPH) will replace Core Laboratories N.V. (NYSE:CLB) in the S&P MidCap 400, and Core Laboratories will replace Akorn Inc. (NASD:AKRX) in the S&P SmallCap 600. Akorn intends to file for reorganization under Chapter 11 of the U.S. Bankruptcy Code by May 1, 2020 and will no longer be eligible for continued inclusion in the S&P SmallCap 600.
- Paylocity Holding Corp. (NASD:PCTY) will replace Meredith Corp. (NYSE:MDP) in the S&P MidCap 400, and Meredith will replace Diamond Offshore Drilling Inc. (NYSE:DO) in the S&P SmallCap 600. Diamond Offshore Drilling filed to reorganize under Chapter 11 of the U.S. Bankruptcy Code and is no longer eligible for continued inclusion in the S&P SmallCap 600.
Enphase Energy designs, develops, manufactures, and sells home energy solutions for the solar photovoltaic industry. Headquartered in Fremont, CA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Semiconductor Equipment Sub-Industry index.
Core Laboratories provides reservoir description and production enhancement services and products to the oil and gas industry. Headquartered in Amsterdam, Netherlands, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index.
Paylocity provides payroll and human capital management software solutions. Headquartered in Schaumburg, IL, the company will be added to the S&P MidCap 400 GICS Application Software Sub-Industry index.
Meredith operates as a diversified media company. Headquartered in Des Moines, IA, the company will be added to the S&P SmallCap 600 GICS Publishing Sub-Industry index.
Following is a summary of the changes:
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S&P MIDCAP 400 INDEX – May 1, 2020
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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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Enphase Energy
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Information Technology
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Semiconductor Equipment
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Paylocity
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Information Technology
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Application Software
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DELETED
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Core Laboratories
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Energy
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Oil & Gas Equipment & Services
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Meredith
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Communication Services
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Publishing
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S&P SMALLCAP 600 INDEX – May 1, 2020
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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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Core Laboratories
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Energy
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Oil & Gas Equipment & Services
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Meredith
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Communication Services
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Publishing
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DELETED
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Akorn
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Health Care
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Pharmaceuticals
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Diamond Offshore Drilling
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Energy
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Oil & Gas Drilling
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For more information about S&P Dow Jones Indices, please visit www.spdji.com
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SOURCE S&P Dow Jones Indices