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The Markets June 2, 2009
GM Removed from S&P 500
General Motors Corp. will be removed from the S&P 500 index after the close of trading today, Standard and Poor’s announced.
Reported by Rebecca Moore
GM’s place in the S&P 500 will be taken by S&P MidCap 400 constituent DeVry Inc. (NYSE: DV), and S&P SmallCap 600 constituent Aaron’s Inc. (AAN) will replace DeVry in the S&P MidCap 400. Cbeyond (Nasdaq: CBEY) will replace Aaron’s in the S&P SmallCap, an announcement said.
DeVry is a provider of post-secondary education headquartered in Oakbrook Terrace, Illinois. The company will be added to the S&P 500 GICS (Global Industry Classification Standard) Education Services Sub-Industry index.
Aaron’s is a specialty retailer of consumer electronics, computers, residential and office furniture, household appliances and accessories, headquartered in Atlanta. The company will be added to the S&P MidCap 400 GICS Homefurnishing Retail Sub-Industry index.
Cbeyond is a provider of managed Internet Protocol-based and communications services, also headquartered in Atlanta. The company will be added to the S&P SmallCap 600 GICS Integrated Telecommunication Services Sub-Industry index.
Standard & Poor’s said it will monitor those transactions, and post any relevant updates on its Web site, www.standardandpoors.com.
GM also will be removed from the Dow Jones Industrial Average at the end of the week (see “Citi, GM Lose Spots on Dow’).