MGM Resorts, ResMed, Packaging Corporation of America, A.O. Smith and Duke Realty Set to Join S&P 500; Others to Join S&P MidCap 400

NEW YORK, July 19, 2017 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500 and S&P MidCap 400 indices effective prior to the open of trading on Wednesday, July 26:

• MGM Resorts Int'l. (NYSE:MGM) will replace Reynolds American Inc. (NYSE:RAI) in the S&P 500. British American Tobacco plc (NYSE MKT:BTI) is acquiring Reynolds American in a deal expected to be completed on July 25, pending final conditions.
• S&P MidCap 400 constituents ResMed Inc. (NYSE:RMD), Packaging Corporation of America (NYSE:PKG), A.O. Smith Corp. (NYSE:AOS) and Duke Realty Corp. (NYSE:DRE) will replace Mallinckrodt plc (NYSE:MNK), Murphy Oil Corp. (NYSE:MUR), Bed Bath & Beyond Inc. (NASD:BBBY) and Transocean Ltd. (NYSE:RIG) respectively, in the S&P 500. Mallinckrodt, Murphy Oil, Bed Bath & Beyond and Transocean will replace ResMed, Packaging Corporation of America, A.O. Smith and Duke Realty, respectively in the S&P MidCap 400. All stocks moving to the S&P 500 have total market capitalizations above $10 billion making them more representative of the large-cap market space. All stocks moving to the S&P MidCap 400 have total market capitalizations below $4.5 billion making them more representative of the mid-cap market space.

MGM Resorts owns and operates casino resorts. Headquartered in Las Vegas, NV, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Casinos & Gaming Sub-Industry index.

ResMed designs, manufactures, distributes, and markets medical devices and cloud-based software applications. Headquartered in San Diego, CA, the company will be added to the S&P 500 GICS Health Care Equipment Sub-Industry index.

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products. Headquartered in Lake Forest, IL, the company will be added to the S&P 500 GICS Paper Packaging Sub-Industry index.

A.O. Smith manufactures and markets residential and commercial gas, gas tankless, electric water heaters, and water treatment products. Headquartered in Milwaukee, WI, the company will be added to the S&P 500 GICS Building Products Sub-Industry index.

Duke Realty, a real estate investment trust (REIT), specializes in the ownership, management and development of industrial and medical office properties. Headquartered in Indianapolis, IN, the company will be added to the S&P 500 GICS Industrial REITs Sub-Industry index.

Mallinckrodt develops, manufactures, markets and distributes specialty pharmaceutical products and therapies. Headquartered in United Kingdom, the company will be added to the S&P MidCap 400 GICS Pharmaceuticals Sub-Industry index.

Murphy Oil operates as an oil and gas exploration and production company. Headquartered in El Dorado AR, the company will be added to the S&P MidCap 400 GICS Oil & Gas Exploration & Production Sub-Industry index.

Bed Bath & Beyond operates a chain of retail stores. Headquartered in Union, NJ, the company will be added to the S&P MidCap 400 GICS Homefurnishing Retail Sub-Industry index.

Transocean provides offshore contract drilling services for oil and gas wells. Headquartered in Switzerland, the company will be added to the S&P MidCap 400 GICS Oil & Gas Drilling Sub-Industry index.

Following is a summary of the changes:

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FOR MORE INFORMATION:

Soogyung Jordan
Global Head of Communications
New York, USA
(+1) 212 438 2297
soogyung.jordan@spglobal.com

David Blitzer
Managing Director and Chairman of the Index Committee
New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com

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SOURCE S&P Dow Jones Indices