NEW YORK (
TheStreet) -- A nearly 30% decline so far this year has gotten
(RSH - Get Report) kicked out of the
Standard & Poor's said in a
press release late Thursday that
Marathon Petroleum, a proposed spin-off of
(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
(HHS - Get Report), which will move to the S&P Smallcap 600.
Harte-Hanks is pushing out
(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
(BYD - Get Report)
in the S&P Midcap 400; Boyd Gaming moving to the S&P Smallcap 600 to replace
(SRT - Get Report)
. AMC Networks is being spun off from
(CVC - Get Report)
, which will remain in the S&P 500.
in the S&P Midcap 400, as Holly is in the process of acquiring Frontier Oil.
(ENTR - Get Report)
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:
>To submit a news tip, send an email to:
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts