Synchrony to Replace Genworth in S&P 500
November 09 2015 - 8:42PM
Dow Jones News
By Josh Beckerman
Synchrony Financial will replace Genworth Financial Inc. (GNW)
in the S&P 500 index after the close of trading Nov. 17.
S&P Dow Jones Indices said Genworth will move to the S&P
MidCap 400, as its market capitalization "is more representative of
the mid cap market space." The insurance company has a market value
of about $2.6 billion.
Synchrony, which provides private-label credit cards, has been
part of General Electric Co. (GE). An exchange offer related to its
separation is expected to be completed next week.
Inclusion in the S&P 500 is typically a boon for a stock as
index-tracking funds buy shares.
In after-hours trading, Genworth shares fell 1.5% to $4.68.
Write to Josh Beckerman at josh.beckerman@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 09, 2015 21:27 ET (02:27 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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