Cendant to Exit S&P 500

Cendant (CD Quote) is being removed from the S&P 500, while two businesses it's spinning off are joining the index.

Standard & Poor's said Monday that lodging concern Wyndham Worldwide will replace its soon-to-be-former parent in the S&P 500. Another pending Cendant spinoff, real-estate brokerage franchiser Realogy, will be added to the S&P 500 by claiming the spot currently held by computer maker Gateway (GTW Quote).

The changes will be official after the close of trading July 31. Gateway's market capitalization of roughly $670 million ranks the company 500th in the index. ...