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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 - 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: Michael Baron.

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

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BYD $13.19 0.53%
CVC $20.38 -0.34%
ENTR $3.11 0.65%
FRO $2.63 0.38%
HTCH $2.74 0.00%


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