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 November 9, 2015 - 7:15 PM EST
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Synchrony Financial Set to Join the S&P 500; Genworth Financial to Join S&P MidCap 400; Rovi to Join S&P SmallCap 600

NEW YORK, Nov. 9, 2015 /PRNewswire/ -- Synchrony Financial (NYSE: SYFwi) will replace Genworth Financial Inc. (NYSE: GNW) in the S&P 500, Genworth Financial will replace Rovi Corp. (NASD: ROVI) in the S&P MidCap 400, and Rovi will replace Penn Virginia Corp. (NYSE: PVA) in the S&P SmallCap 600 after the close of trading on Tuesday, November 17. S&P 100 & 500 constituent General Electric Co. (NYSE: GE) is splitting off its approximately 85% holding in Synchrony Financial in an exchange offer expected to be completed soon, pending final conditions.  Post split-off, General Electric will remain in the S&P 100 and 500 indices. Genworth Financial's total market capitalization is more representative of the mid cap market space, and Rovi's total market capitalization is more representative of the small cap market space. Penn Virginia is ranked at the bottom of the S&P SmallCap 600.

Synchrony Financial operates as a consumer financial services company. Headquartered in Stamford, CT, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Consumer Finance Sub-Industry index.

Genworth Financial provides insurance, retirement, and homeownership solutions. Headquartered in Richmond, VA, the company will be added to the S&P MidCap 400 GICS Multi-line Insurance Sub-Industry index.

Rovi provides integrated solutions for the discovery and personalization of digital entertainment. Headquartered in Santa Clara, CA, the company will be added to the S&P SmallCap 600 GICS Systems Software Sub-Industry index.

Following is a summary of the changes:

 

S&P 500 INDEX – November 17, 2015


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Synchrony Financial

Financials

Consumer Finance

DELETED

Genworth Financial

Financials

Multi-line Insurance

 

S&P MIDCAP 400 INDEX – November 17, 2015


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Genworth Financial

Financials

Multi-line Insurance

DELETED

Rovi

Information Technology

Systems Software

 

S&P SMALLCAP 600 INDEX – November 17, 2015


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Rovi

Information Technology

Systems Software

DELETED

Penn Virginia

Energy

Oil & Gas Exploration & Production

 

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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Managing Director and Chairman of Index Committee
New York, USA
(+1) 212 438 3907
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(+1) 212 438 1471
dave.guarino@spdji.com 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/synchrony-financial-set-to-join-the-sp-500-genworth-financial-to-join-sp-midcap-400-rovi-to-join-sp-smallcap-600-300175334.html

SOURCE S&P Dow Jones Indices


Source: PR Newswire (November 9, 2015 - 7:15 PM EST)

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