NEW YORK, Dec. 10 Standard & Poor's will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:
Standard & Poor's will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.
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.
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.
Following is a summary of the changes:
Additions to and deletions from an S&P equity index do not in any way reflect an opinion on the investment merits of the companies concerned.
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-- Masimo Corp. (Nasdaq: MASI) will replace PDL BioPharma Inc. (Nasdaq: PDLI) in the S&P MidCap 400 after the close of trading on Thursday, December 18. 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.
SOURCE Standard & Poor's