Medidata Solutions Set to Join S&P MidCap 400; McDermott International to Join S&P SmallCap 600

PR Newswire 20-Jun-2017 6:17 PM

NEW YORK, June 20, 2017 /PRNewswire/ -- S&P SmallCap 600 constituent Medidata Solutions Inc. (NASD: MDSO) will replace PrivateBancorp Inc. (NASD: PVTB) in the S&P MidCap 400, and McDermott International Inc. (NYSE: MDR) will replace Medidata Solutions in the S&P SmallCap 600 effective prior to the open on Monday, June 26. Canadian Imperial Bank of Commerce is acquiring PrivateBancorp in a deal expected to be completed on June 23.

Medidata Solutions provides cloud-based solutions. Headquartered in New York, NY, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Health Care Technology Sub-Industry index.

McDermott International provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services. Headquartered in Houston, TX, the company will be added to the S&P SmallCap 600 GICS Oil & Gas Equipment & Services Sub-Industry index.

Following is a summary of the changes:

S&P MIDCAP 400 INDEX June 26, 2017

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Medidata Solutions

Health Care

Health Care Technology

DELETED

PrivateBancorp

Financials

Regional Banks

S&P SMALLCAP 600 INDEX June 26, 2017

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

McDermott International

Energy

Oil & Gas Equipment & Services

DELETED

Medidata Solutions

Health Care

Health Care Technology

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SOURCE S&P Dow Jones Indices