This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RadioShack Booted From S&P 500

NEW YORK ( TheStreet) -- A nearly 30% decline so far this year has gotten RadioShack (RSH) kicked out of the S&P 500.

Standard & Poor's said in a press release late Thursday that Marathon Petroleum, a proposed spin-off of Marathon Oil (MRO - Get Report). Marathon Oil will remain in the S&P 500 after the spin-off.



RadioShack, whose $1.4 billion market capitalization is "more representative of the mid cap market space" according to S&P, will join the S&P Midcap 400, replacing Harte-Hanks (HHS - Get Report), which will move to the S&P Smallcap 600.

Harte-Hanks is pushing out Hutchinson Technology (HTCH - Get Report), which S&P said has the smallest market cap in the index.

Shares of RadioShack closed Thursday at $13.20, up 2%, on volume of 4.5 million, above the issue's trailing three-month daily average churn of 3.4 million. The stock is down 30% year-to-date, and 40% in the past year. Its 52-week low of $12.28 came on June 16.

Other changes include AMC Networks (AMCXV) replacing Boyd Gaming (BYD - Get Report) in the S&P Midcap 400; Boyd Gaming moving to the S&P Smallcap 600 to replace StarTek (SRT - Get Report). AMC Networks is being spun off from Cablevision Systems (CVC - Get Report), which will remain in the S&P 500.

Also, Holly Corp. (HOC) is replacing Frontier Oil (FTO) in the S&P Midcap 400, as Holly is in the process of acquiring Frontier Oil. Entropic Communications (ENTR) is replacing Holly Corp. in the S&P Smallcap 600.

All these index changes are expected to take place after the market close on June 30.

-- Written by Michael Baron in New York.



>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to: tips@thestreet.com

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BYD $14.36 0.28%
CVC $25.30 -0.06%
ENTR $3.02 -2.27%
FRO $3.06 2.20%
HHS $6.40 7.30%

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,121.45 -2.03 -0.10%
NASDAQ 5,098.8060 -7.7870 -0.15%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs