Coty to Join Prestigious S&P 500

NEW YORK — Coty, a maker of perfumes and cosmetics, will be joining the prestigious S&P 500 Index at the close of trading on Friday, September 30. The changes to the index were announced by S&P Dow Jones.

  • Coty Inc. (NYSE: COTY) will replace Diamond Offshore Drilling Inc. (NYSE: DO) in the S&P 500, and Diamond Offshore Drilling will replace Polycom Inc. (NASD: PLCM) in the S&P MidCap 400. Siris Capital Group acquired Polycom in a deal completed Tuesday. Diamond Offshore Drilling is ranked at the bottom of the S&P 500 and has a market capitalization more representative of the mid-cap market space.
  • Tile Shop Holdings Inc. (NASD: TTS) will replace Epiq Systems Inc. (NASD: EPIQ) in the S&P SmallCap 600. Omers Private Equity is acquiring Epiq in a deal expected to be completed soon pending final conditions.

Coty manufactures, markets, and distributes beauty products. Headquartered in New York, NY, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Personal Products Sub-Industry index.

Shares in COTY closed Tuesday down $0.12 to $23.45 but were up $0.68 in after-hours trading when the news was released.

Diamond Offshore Drilling provides contract drilling services to the energy industry. Headquartered in Houston, TX, the company will be added to the S&P MidCap 400 GICS Oil & Gas Drilling Sub-Industry index.

Tile Shop Holdings operates as a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials. Headquartered in Plymouth, MN, the Company will be added to the S&P SmallCap 600 GICS Home Improvement Retail Sub-Industry index.

Following is a summary of the changes:

S&P 500 INDEX – September 30, 2016

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Coty

Consumer Staples

Personal Products

DELETED

Diamond Offshore Drilling

Energy

Oil & Gas Drilling

 

S&P MIDCAP 400 INDEX – September 30, 2016

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Diamond Offshore Drilling

Energy

Oil & Gas Drilling

DELETED

Polycom

Information Technology

Communications Equipment

 

S&P SMALLCAP 600 INDEX – September 30, 2016

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Tile Shop Holdings

Consumer Discretionary

Home Improvement Retail

DELETED

Epiq Systems

Information Technology

Application Software