Las Vegas Sands Corp. (NYSE: LVS) will replace Nektar Therapeutics (NASD: NKTR) in the S&P 500, and Nektar Therapeutics will replace Sotheby's (NYSE: BID) in the S&P MidCap 400 effective prior to the open of trading on Thursday, October 3. BidFair USA LLC is acquiring Sotheby's in a transaction expected to be completed soon pending final conditions. Nektar Therapeutics is ranked near the bottom of the S&P 500 and has a market capitalization more representative of the mid-cap market space.
The Pennant Group Inc. (NASD: PNTG) will be added to the S&P SmallCap 600 prior to the open of trading on Tuesday, October 1. The Pennant Group will replace Gulf Island Fabrication Inc. (NASD: GIFI), which will be removed from the S&P SmallCap 600 effective prior to the open of trading on Wednesday, October 2. S&P SmallCap 600 constituent The Ensign Group Inc. (NASD: ENSG) is spinning off The Pennant Group in a transaction expected to be completed on or about October 1 pending final conditions. Gulf Island Fabrication is ranked near the bottom of the S&P SmallCap 600 and is no longer representative of the small-cap market space.
Las Vegas Sands develops, owns, and operates integrated resorts. Headquartered in Las Vegas, NV, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Casinos & Gaming Sub-Industry index.
Nektar Therapeutics develops drug candidates for cancer, autoimmune disease, and chronic pain. Headquartered in San Francisco, CA, the company will be added to the S&P MidCap 400 GICS Pharmaceuticals Sub-Industry index.
The Pennant Group offers home health, hospice, and senior living services. Headquartered in Eagle, ID, the company will be added to the S&P SmallCap 600 GICS Health Care Facilities Sub-Industry index.
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