ITT’s(ITT) long awaited spinoffs, Xylem(XYL) and Exelis (XLS) are set to be distributed to shareholders on 10/31. Standard & Poor has announced that Xylem will take ITT’s place in the S&P 500 index. Both Exelis and ITT will join the S&P MidCap 400, replacing Eastman Kodak(EK) and Kindred Healthcare(KND). Lumos Holdings, being spun out of NTELOS(NTLS) on the same day, will be added to the S&P SmallCap 600.
