NEW YORK (
) -- A nearly 30% decline so far this year has gotten
kicked out of the
Standard & Poor's said in a
late Thursday that
, a proposed spin-off of
. 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
, which will move to the S&P Smallcap 600.
Harte-Hanks is pushing out
, 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
( AMCXV) replacing
in the S&P Midcap 400; Boyd Gaming moving to the S&P Smallcap 600 to replace
. AMC Networks is being spun off from
, which will remain in the S&P 500.
( HOC) is replacing
( FTO) in the S&P Midcap 400, as Holly is in the process of acquiring Frontier Oil.
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.
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