AIG and GM Replace Baker Hughes and Heinz in S&P Indices

By Eric Volkman – Jun 3, 2013 at 7:34PM

NYSE: GM

General Motors

Market Cap

$52B

Today's Change

(-0.14%) -$0.07

Current Price

$45.02

Price as of April 25, 2024, 10:21 a.m. ET

GM will have a spot on both the S&P 500 and the 100; AIG will take a position on the latter.

McGraw-Hill Financial's S&P Dow Jones Indices has brought in a pair of big-name stocks to replace issues on two of its signature products. After the close of trading on June 6, both the S&P 100 and the 500 will be home to General Motors (GM -0.14%). The stock replaces Heinz (HNZ), which was recently acquired by a consortium led by Berkshire Hathaway.

Also taking a slot on the S&P 100 will be insurance giant AIG (AIG -0.83%), taking the position currently held by Baker Hughes (BHI). The latter's total market capitalization is now below $21 billion, which S&P Dow Jones Indices says "is no longer representative of the megacap market space." The stock will, however, remain on the S&P 500.

Fool contributor Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends General Motors and Heinz. It recommends and owns shares of AIG and Berkshire Hathaway and has the following options: long Jan. 2014 $25 calls on AIG. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.