Orion Group Holdings(ORN) is a specialty construction company operating on Marine projects. Of late, its stock has taken a beating, and it is now too small for the S&P SmallCap 600 Index. On Friday, it will be removed from the Index, to be replaced by the newly spun off denim company Kontoor Brands(KTB). VF Corp(VFC) will complete its… Read More »
A spinoff of a Dow Jones Industrial Average component is not an everyday occurrence. GE(GE), a former Dow component, recently spun off its transportation business into Wabtec(WAB), but the struggling company was removed from the Dow last June. United Technologies(UTX) plans to split in three next year. Even rarer, in this case, the child will join the Dow,… Read More »
Five months after it floated 15.8% of Arlo(ARLO) in an IPO, NETGEAR(NTGR) will be spinning off its remaining stake to shareholders. For each share of NETGEAR held on December 17, shareholders will receive 1.980295 shares of Arlo common stock on December 31. The transaction is expected to be tax free to shareholders. Arlo has struggled since its IPO… Read More »
As we near the end of the month, the completion of three spinoff transactions will be driving changes in various S&P Indexes. Citrix Systems(CTXS) will be spinning off its GetGo division which will then merge with LogMeIn(LOGM) in a reverse Morris Trust transaction. After the transaction is completed on January 31st, Citrix will remain in the S&P 500.… Read More »
As is often the case, this week’s spinoffs have implications for market indexes. First, Hewlett-Packard(HPQ) will be replaced by BlackRock(BLK) in the S&P 100. Hewlett-Packard will be changing its name to HP and spinning off Hewlett Packard Enterprise(HPE). Hewlett Packard Enterprise joined its former parent in the S&P 500 after the close of trading on Friday, October 30.… Read More »
More spins mean more work for the folks at S&P Dow Jones Indices. With the completion of Barnes & Noble’s(BKS) spin of Barnes & Noble Education(BNED) this weekend, Barnes & Noble Education will join its parent in the S&P SmallCap 600, replacing A.M. Castle & Co(CAS). The change will maintain the index’s current ampersand level. With the completion… Read More »
The unprecedented number of spins this week has kept the folks at S&P working overtime making changes to their indexes. Last week, AOL(AOL), a spinoff of Time Warner(TWX) was acquired by Verizon(VZ), a conglomeration of several spinoffs of the original AT&T(T). As a result, Casey’s General Stores(CASY) will move from the S&P SmallCap 600 to take its spot in… Read More »
As previously discussed, Baxter International (BAX) will be spinning off Baxalta (BXLT) after the close of business on June 30. As is often the case with larger spinoffs this will result in some S&P index reshuffling. First, Baxter will no longer be large enough to remain a member of the S&P 100 and will be replaced by Priceline… Read More »