For Whom The Dell Tolls- Newborn AbbVie To Replace Dell In S&P 100, To Join S&P 500 As Well

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Some spinoffs are tiny, others are born big. AbbVie(ABBV) is a case of the latter. With a market cap of over $50 Billion, it begins life as a megacap when it spins off on January 2 from Abbott Laboratories(ABT) and thus replaces the sinking Dell(DELL) in the megacap S&P 100 Index.  This was one of several index changes S&P announced to take effect after close of trading on December 31.

AbbVie will also join the S&P 500, replacing Federated Investors, Inc.(FII).  Federated will move down to S&P MidCap 400 replacing ITT Educational Services(ESI). ITT will move down to the S&P SmallCap 600 pushing out NCI(NCIT).  The Abbott stub, itself a $50 Billion company will remain in both the S&P 100 and S&P 500 indices.

Disclosure: The author holds no position in any stock mentioned

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