Dell Is Dropped from the S&P 100
Dec 21st 2012 6:47AM
Updated Dec 21st 2012 9:55AM
Dell Inc. (NASDAQ: DELL) has been kicked out of the S&P 100. The PC company has struggled to remain relevant, and successful, for years. Perhaps Standard & Poor's finally has acknowledged that Dell does not have much of a future.
According to S&P:
AbbVie Inc. (NYSE:ABBVwi) will replace Dell Inc. (NASD:DELL) in the S&P 100, and Federated Investors Inc. (NYSE:FII) in the S&P 500. Federated will replace ITT Educational Services Inc. (NYSE:ESI) in the S&P MidCap 400, and ITT Educational Services will replace NCI Inc. (NASD:NCIT) in the S&P SmallCap 600. S&P 100 and 500 constituent Abbott Laboratories (NYSE:ABT) is spinning off AbbVie in a transaction expected to be completed after the close of trading on December 31. The Abbott Laboratories stub will remain in the S&P 100 and 500. Dell has a market capitalization below $18.5 billion and is no longer representative of the mega-cap market space. Federated Investors' market capitalization is below $2.2 billion, making it more representative of the mid-cap market space, and ITT Educational Services' market capitalization is below $450 million making it more representative of the small-cap market space. NCI Corp.is ranked #600 in the S&P SmallCap 600.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, Index, PC Companies Tagged: DELL