Wabtec to Join S&P 500

NEW YORK — Wabtec Corp. (NYSE: WAB) is replacing The Goodyear Tire & Rubber Co. (NASD: GT) in the S&P 500 next week according to an announcement by S&P Dow Jones Indices.

The Goodyear Tire & Rubber will replace Wabtec in the S&P MidCap 400 effective prior to the open of trading on Wednesday February 27.

S&P 500 and 100 constituent General Electric Co. (NYSE: GE) is spinning off its holdings of Transportation Systems Holdings Inc. to shareholders. Immediately following the distribution, Transportation Systems Holdings is being acquired by Wabtec in a transaction expected to be completed on February 26, pending final conditions. After the transaction, Wabtec will be more representative of the large-cap market space. Goodyear Tire & Rubber is more representative of the mid-cap market space. General Electric will remain in the S&P 500 and 100.

Wabtec manufactures and supplies technology-based products and components for freight and passenger rail, transit, power generation, off-highway equipment and industrial markets. Headquartered in Wilmerding, PA, the company will be added to the S&P 500 Global Industry Classification Standard (GICS) Construction Machinery & Heavy Trucks Sub-Industry index.

Goodyear Tire & Rubber develops, manufactures, distributes and sells tires and related products. Headquartered in Akron, OH, the company will be added to the S&P MidCap 400 GICS Tires & Rubber Sub-Industry index.

Following is a summary of the changes:

S&P 500 INDEX – February 27, 2019

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Wabtec

Industrials

Construction Machinery & Heavy Trucks

DELETED

Goodyear Tire & Rubber

Consumer Discretionary

Tires & Rubber

S&P MIDCAP 400 INDEX – February 27, 2019

COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

Goodyear Tire & Rubber

Consumer Discretionary

Tires & Rubber

DELETED

Wabtec

Industrials

Construction Machinery & Heavy Trucks