Kraft Foods Group joining S&P 500

[September 27, 2012]  NEW YORK (AP) -- The S&P Dow Jones Indices said Wednesday that Kraft Foods Group, which is being spun off from Kraft Foods Inc., will replace Alpha Natural Resources Inc. on the S&P 500.

Kraft Foods Group is a food and beverage business based in Northfield, Ill.

Kraft Foods Inc. is being renamed Mondelez International Inc. and is changing its ticker symbol to "MDLZ." It will remain in the S&P 100 and the S&P 500.

Alpha, which produces steam and metallurgical coal, will replace Korn/Ferry International in the S&P MidCap 400. Alpha is based in Abingdon, Va.

Staffing firm Korn/Ferry, which is based in Los Angeles, replaces Pulse Electronics Corp. in the S&P SmallCap 600.

S&P Dow Jones Indices says that Alpha's and Korn/Ferry's market capitalizations are more representative of the mid cap and small cap market spaces, while Pulse is ranked No. 600 in the S&P SmallCap 600 and is no longer deemed appropriate for inclusion in that index.

The changes will take effect after the market closes on Monday.

Among other actions, InterDigital Inc. will replace Quest Software Inc. on the S&P MidCap 400 after the market closes on Friday. Quest is being purchased by Dell Inc. in a $2.4 billion deal that is expected to close soon.

InterDigital, based in King of Prussia, Pa., licenses patents on wireless technology.

Genesee & Wyoming Inc. is replacing Collective Brands Inc. in the S&P MidCap 400, as Collective is being bought for $1.32 billion by a group that includes Wolverine World Wide Inc. Greenwich, Conn.-based Genesee & Wyoming owns and runs freight railroads and provides railcar switching services.

[Associated Press]

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