Business News: Fox Set to Join S&P 500; Adobe to Join S&P 100

NEW YORK (STL.News) – S&P Dow Jones Indices (“S&P DJI”) will make the following changes to the S&P 500 & S&P 100:

  • Fox Corp. (NASD:FOXAV;FOXBV) will be added to the S&P 500 prior to the open of trading on Tuesday, March 19.  Fox will replace Twenty-First Century Fox Inc. (NASD:FOXA;FOX), which will be removed from the S&P 500 and S&P 100 effective prior to the open of trading on Wednesday, March 20. S&P 500 and 100 constituent The Walt Disney Co. (NYSE:DIS) is acquiring TwentyFirst Century Fox one day after Twenty-First Fox spins off Fox Corp. to shareholders.  For index purposes, S&P DJI considers Fox Corp. to be the surviving entity of Twenty-First Century Fox and therefore both the Class A and Class B common stock lines will continue to be included in the S&P 500.  Effective on March 19, Twenty-First Century Fox will change its Class A common stock ticker from FOXA to TFCFA and its Class B common stock ticker from FOX to TFCF.  Also effective on March 19, Fox Corp. will change its Class A common stock ticker from FOXAV to FOXA and its Class B common stock ticker from FOXBV to FOX.
  • Adobe Inc. (NASD:ADBE) will replace Twenty-First Century Fox in the S&P 100 effective prior to the open of trading on Wednesday, March 20.  Post spin-off, the surviving Fox Corp. will no longer be representative of the mega-cap market space.  Fox Corp. operates as a news, sports, and entertainment company. Headquartered in New York, NY, the company will be added to the S&P 500 (Global Industry Classification Standard) GICS Broadcasting SubIndustry index effective prior to the open of trading on Wednesday, March 20.

Adobe operates as a diversified software company and is headquartered in San Jose, CA.