Synopsys to Join S&P 500

NEW YORK — S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices effective prior to the open of trading on Thursday, March 16:

  • S&P MidCap 400 constituent Synopsys Inc. (NASD: SNPS) will replace Harman International Industries Inc. (NYSE: HAR) in the S&P 500, S&P SmallCap 600 constituent The GEO Group Inc. (NYSE: GEO) will replace Synopsys in the S&P MidCap 400, and Coca-Cola Bottling Co. Consolidated (NASD: COKE) will replace The GEO Group in the S&P SmallCap 600. Samsung Electronics Co. Ltd. acquired Harman International Industries in a deal that was completed yesterday.
  • Orthofix International N.V. (NASD: OFIX) will replace Tangoe Inc. (NasdaqGS: TNGO) in the S&P SmallCap 600. Tangoe no longer meets index eligibility criteria following its expected delisting from its primary market.

Synopsys provides electronic design automation software products used to design and test integrated circuits. Headquartered in Mountain View, CA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Application Software Sub-Industry index.

GEO Group is a real estate investment trust (REIT) specializing in the ownership, leasing and management of correctional, detention and reentry facilities and the provision of community-based services and youth services. Headquartered in Boca Raton, FL, the company will be added to the S&P MidCap 400 GICS Specialized REITs Sub-Industry index.

Coca-Cola Bottling produces, markets, and distributes nonalcoholic beverages. Headquartered in Charlotte, NC, the company will be added to the S&P SmallCap 600 GICS Soft Drinks Sub-Industry index.

Orthofix International, a medical device company, provides reconstructive and regenerative orthopedic and spine solutions to physicians. Headquartered in Lewisville, TX, the company will be added to the S&P SmallCap 600 GICS Health Care Equipment Sub-Industry index.

Following is a summary of the changes:

S&P 500 INDEX – March 16, 2017

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Synopsys

Information Technology

Application Software

DELETED

Harman International Industries

Consumer Discretionary

Consumer Electronics

S&P MIDCAP 400 INDEX – March 16, 2017

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

The GEO Group

Real Estate

Specialized REITs

DELETED

Synopsys

Information Technology

Application Software

S&P SMALLCAP 600 INDEX – MARCH 16, 2017

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Coca-Cola Bottling Co.

Consumer Staples

Soft Drinks

Orthofix International

Health Care

Health Care Equipment

DELETED

The GEO Group

Real Estate

Specialized REITs

Tangoe

Information Technology

Application Software