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Wabtec Set to Join S&P 500 and The Goodyear Tire & Rubber to Join S&P MidCap 400

NEW YORK, Feb. 21, 2019 /PRNewswire/ -- S&P MidCap 400 constituent Wabtec Corp. (WAB) will replace The Goodyear Tire & Rubber Co. (GT) in the S&P 500, and The Goodyear Tire & Rubber will replace Wabtec in the S&P MidCap 400 effective prior to the open of trading on Wednesday February 27. S&P 500 and 100 constituent General Electric Co. (GE) is spinning off its holdings of Transportation Systems Holdings Inc. to shareholders. Immediately following the distribution, Transportation Systems Holdings is being acquired by Wabtec in a transaction expected to be completed on February 26, pending final conditions. After the transaction, Wabtec will be more representative of the large-cap market space. Goodyear Tire & Rubber is more representative of the mid-cap market space. General Electric will remain in the S&P 500 and 100.

Wabtec manufactures and supplies technology-based products and components for freight and passenger rail, transit, power generation, off-highway equipment and industrial markets. Headquartered in Wilmerding, PA, the company will be added to the S&P 500 Global Industry Classification Standard (GICS) Construction Machinery & Heavy Trucks Sub-Industry index.

Goodyear Tire & Rubber develops, manufactures, distributes and sells tires and related products. Headquartered in Akron, OH, the company will be added to the S&P MidCap 400 GICS Tires & Rubber Sub-Industry index.

Following is a summary of the changes:

S&P 500 INDEX – February 27, 2019


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Wabtec

Industrials

Construction Machinery & Heavy Trucks

DELETED

Goodyear Tire & Rubber

Consumer Discretionary

Tires & Rubber

 

S&P MIDCAP 400 INDEX – February 27, 2019


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Goodyear Tire & Rubber

Consumer Discretionary

Tires & Rubber

DELETED

Wabtec

Industrials

Construction Machinery & Heavy Trucks

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