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S&P replaces members of indexes

By Associated Press
May 23, 2008 | Comments (0)

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Standard & Poor's said Friday it has made changes in the components of its S&P 500, S&P MidCap 400 and S&P SmallCap 600 indexes.

Intuitive Surgical Inc. is replacing Bear Stearns Cos. in the S&P 500. Intuitive Surgical was previously part of the S&P MidCap400.

The Shaw Group Inc. will replace Intuitive Surgical in the S&P MidCap400. II-VI Inc. will replace The Shaw Group in the S&P SmallCap 600.

The changes tied to Bear Stearns are a results of its pending acquisition by JPMorgan Chase & Co. and will be completed when the deal closes, possibly by June 2.

Olympic Steel Inc. will replace X-Rite Inc. in the S&P SmallCap 600, and Magellan Health Services Inc. will replace Bright Horizons Family Solutions Inc. in the S&P SmallCap 600 as well.

Bright Horizons is being acquired by Bain Capital Partners and will be replaced once the deal is completed. Olympic Steel will replace X-Rite after the market closes Tuesday.

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