IPG Photonics Set to Join S&P 500; ALLETE and LendingTree to Join S&P MidCap 400; New York Mortgage Trust, Global Net Lease and Finisar to Join S&P SmallCap 600

NEW YORK, March 2, 2018 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600:

• S&P MidCap 400 constituent IPG Photonics Corp. (NASD: IPGP) will replace Scripps Networks Interactive Inc. (NASD: SNI) in the S&P 500, S&P SmallCap 600 constituent ALLETE Inc. (NYSE: ALE) will replace IPG Photonics in the S&P MidCap 400, and New York Mortgage Trust Inc. (NASD: NYMT) will replace ALLETE in the S&P SmallCap 600 effective prior to the open of trading on Wednesday, March 7. S&P 500 constituent Discovery Communications Inc. (NASD: DISCK, DISCA) is acquiring Scripps Networks Interactive in a deal expected to be completed on or about that date pending final approvals.
  
  
• S&P SmallCap 600 constituent LendingTree Inc. (NASD: TREE) will replace Bioverativ Inc. (NASD: BIVV) in the S&P MidCap 400, and Finisar Corp. (NASD: FNSR) will replace LendingTree in the S&P SmallCap 600 effective prior to the open of trading on Thursday, March 8. Sanofi is acquiring Bioverativ in a tender offer expected to expire on or about that date pending final conditions.
  
  
• Global Net Lease Inc. (NYSE: GNL) will replace GCI Liberty Inc. (NASD: GNCMA) in the S&P SmallCap 600 effective prior to the open of trading on Friday, March 9. Liberty Interactive Corp., through its Liberty Ventures common stock (NASD: LVNTA), is acquiring GCI Liberty in a deal expected to be completed on or about that date pending final conditions.

IPG Photonics develops and manufactures a range of high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing.  Headquartered in Oxford, MA, the company will be added to the S&P 500 GICS (Global Industry Classification Standard) Electronic Manufacturing Services Sub-Industry index.

ALLETE is an energy company that generates electricity from coal-fired, natural gas-fired, biomass co-fired, hydroelectric, wind, solar, and other sources.  Headquartered in Duluth, MN, the company will be added to the S&P MidCap 400 GICS Electric Utilities Sub-Industry index.

New York Mortgage Trust, a real estate investment trust (REIT), acquires, invests in, finances, and manages mortgage-related and residential housing-related, and financial assets.  Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Mortgage REITs Sub-Industry index.

LendingTree operates an online loan marketplace for consumers seeking loans and other credit-based offerings. Headquartered in Charlotte, NC, the company will be added to the S&P MidCap 400 GICS Thrifts & Mortgage Finance Sub-Industry index.

Finisar provides optical subsystems and components for data communication and telecommunication applications. Headquartered in Sunnyvale, CA, the company will be added to the S&P SmallCap 600 GICS Communications Equipment Sub-Industry index.

Global Net Lease is a REIT focused on acquiring a diversified global portfolio of commercial properties. Headquartered in New York, NY, the company will be added to the S&P SmallCap 600 GICS Diversified REITs Sub-Industry index.

Following is a summary of the changes:

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FOR MORE INFORMATION:

David Blitzer

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New York, USA
(+1) 212 438 3907
david.blitzer@spglobal.com

S&P Dow Jones Indices
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SOURCE S&P Dow Jones Indices