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Health and Healthcare

S&P Index Change for West Pharmaceutical Services (WST, UNH, SIE)

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By Douglas A. McIntyre Published
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We do not cover every single index change, but we do cover the ones where it looks like it will impact individual stocks.  Standard & Poor’s made an index change announcement this evening and noted that it was adding  West Pharmaceutical Services Inc. (NYSE: WST) to the S&P SmallCap 600.  The change will take place after the close of trading on Thursday, February 28, 2008. 

The reason for the change is because Sierra Health Services Inc. (NYSE: SIE) was removed from the S&P SmallCap 600 after today’s close of trading due to its completed acquisition by UnitedHealth Group Inc. (NYSE: UNH).

We at a673b.bigscoots-temp.com prefer index additions such as this one.  The reason we prefer "new member adds" like this is because fund managers and investment managers that track the S&P 500, the S&P MidCap 400, and the S&P SmallCap 600 Index do not yet own shares of the stock.  When these get upgraded from one index to another it often creates close to a net-zero effect or at least a more muted effect. 

West Pharma shares closed down 0.3% at $41.70 today, but shares are up 1.7% at $42.40 for its limited after-hours trading and the "bid/ask indications" are both higher than that now.  Its 52-week trading range is $35.20 to $54.83.  Shares are up over 10% since it released earnings last week. 

Jon C. Ogg
February 26, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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