Advanced Micro Devices Is Getting Removed From The Standard & Poor’s 500 Index
Advanced Micro Devices (AMD) has been removed from the Standard & Poor’s 500 Index starting September 20th, according to the S&P Dow Jones Indices. AMD is going to be moved to the S&P MidCap 400 going forward.
Vertex Pharmaceuticals and Ametek will be joining the Standard & Poor’s 500 Index going forward as a replacement for Advanced Micro Devices and SAIC.
The reason why AMD is being taken off is because their market value is now too small for the U.S. equity benchmark.
SAIC is a government contractor that will be splitting into two companies in a transaction that will be completed this month. Vertex is a drug company that focuses on hepatitis C.
[Source: Bloomberg]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry