By Kathryn Hardison
Nexstar Media Group Inc. and PBF Energy Inc. will join the S&P MidCap 400, while Sabre Corp. and Nu Skin Enterprises Inc. will move to the S&P SmallCap 600, the S&P Dow Jones Indices said Monday.
The changes will be effective prior to the opening of trading on Dec. 1, S&P Dow Jones Indices said.
Nexstar Media will replace Sabre in the S&P MidCap 400, while Sabre will replace Flagstar Bancorp Inc. in the S&P SmallCap 600.
New York Community Bancorp Inc. is acquiring Flagstar in a deal that is expected to be completed soon, the company noted.
Also, PBF Energy, a S&P SmallCap 600 constituent, is swapping places with Nu Skin Enterprises in the S&P MidCap 400.
The shifts better represent the companies and their respective market spaces, the S&P Dow Jones Indices said.
For instance, S&P Dow Jones Indices noted that Sabre has a market capitalization more representative of the small-cap market space.
Write to Kathryn Hardison at email@example.com
Corrections & Amplifications
This article was corrected at 6:18 p.m. ET to reflect that S&P Dow Jones Indices noted that Sabre has a market capitalization more representative of the small-cap market space. The original version incorrectly said that Sabre reported about its own market cap.
(END) Dow Jones Newswires