Pfizer spin-off Zoetis to join S&P 500
NEW YORK (AP) — S&P Dow Jones Indices LLC said Friday that it is updating the companies traded on some of its market indicators.
Zoetis Inc., an animal medicine maker that is being spun off from Pfizer Inc., will replace banking and financial service company First Horizon National Corp. on the S&P 500.
First Horizon National will replace network product maker QLogic Corp. on the S&P MidCap 400. And QLogic will replace retailer Coldwater Creek Inc. in the S&P SmallCap 600 after the close of trading on June 21.
S&P said the moves will put companies in indexes that better reflect their market capitalization. Coldwater Creek is ranked last in the SmallCap 600.