Oct. 24 (Bloomberg) -- Xylem Inc. will replace ITT Corp. in the Standard & Poor’s 500 Index after the close of trading on Oct. 31, S&P said in a statement today.
ITT will be added to the S&P MidCap 400 Index along with Exelis Inc. Xylem and Exelis are being spun off from ITT in a transaction expected to be completed around the date of the index change, S&P said. Eastman Kodak Co. and Kindred Healthcare Inc. will be removed from the midcap gauge.
Kindred will be added to the S&P SmallCap 600 Index, along with Lumos Networks Corp., S&P said. They will replace Smith Micro Software Inc. and Kid Brands Inc. in that measure, the statement said.
Ntelos Holdings Corp. is spinning off Lumos in a deal expected to be completed around the date of the index changes, S&P said.
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