Tag Archives: S&P

Summer Of Spin Brings More S&P Index Changes

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 »

Baxalta Set To Enter S&P 500, Baxter Will leave S&P 100 On Completion Of Spinoff

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 »

Gene Marcial Likes McGraw-Hill Spinoff, Sees Additional Appreciation

Long time stock columnist Gene Marcial(now of Forbes) thinks McGraw-Hill(MHP) is “the new and potentially robust growth- and-value stock play,  as it gets closer to splitting up into two companies“.  Marcial says that the stock , which has risen from $34 last August to over $49, may have more room to go up in the next year. Some bulls… Read More »

No Change To L-3 Credit Ratings In Wake Of Engilty Spin And Debt Repayment

As part of its recent spinoff of Engility(EGL), L-3 Communications(LLL) received $325 million in cash which it will use to retire $250 million in debt and repurchase $75 million in stock. Despite this balance sheet improvement, both S&P and Fitch left the company’s ratings unchanged. From S&P: Standard & Poor’s Ratings Services said today that its ratings and… Read More »