NEW YORK, N.Y. – S&P Dow Jones Indices says it has made a slew of changes to its stock market gauges. The changes are designed primarily to make the individual stocks in each index better represent the index’s specific size criteria.
Among the changes, Avon Products Inc. will drop out of the benchmark S&P 500 index and join the MidCap 400 index, swapping places with Hanesbrands Inc.
Equinix Inc. and SL Green Realty Corp. will also join the S&P 500, replacing Denbury Resources Inc. and Nabors Industries Ltd., which are joining the MidCap 400.
CareFusion Corp., which is being acquired, will be removed from the S&P 500. Henry Schein Inc. will take its place.
The changes are expected to occur within the next week.