The Markets December 24, 2008

Financial Services Shifts Shake Up S&P 500

There’s been a lot of change in the financial services sector – change that will shortly be reflected in a major U.S. stock index.
Reported by
Standard & Poor’s has announced that it will make the following changes to the S&P 500:
SCANA Corp. (ticker: SCG) will replace Merrill Lynch in the S&P 500 after the close of trading on Wednesday, December 31. Merrill Lynch is being acquired by S&P 500 constituent Bank of America Corp. in a transaction expected to be completed on or about that date, pending final approvals.
Owens-Illinois Inc. (ticker: OI) will replace Wachovia in the S&P 500 after the close of trading on Wednesday, December 31. Wachovia is being acquired by S&P 500 constituent Wells Fargo & Co. in a transaction expected to be completed on or about that date, pending final approvals.
FLIR Systems Inc. (ticker: FLIR) will replace National City Corp. in the S&P 500 after the close of trading on Wednesday, December 31. National City is being acquired by S&P 500 constituent PNC Financial Services Group Inc. in a transaction expected to be completed on or about that date, pending final approvals.
Standard & Poor’s will monitor these transactions, and post any relevant updates on its website: www.standardandpoors.com.

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