Allegion To Replace J. C. Penney In S&P 500

(RTTNews) - S&P Dow Jones Indices announced that Allegion plc (ALLE) will replace J. C. Penney Company Inc.(JCP) in the Standard & Poor's 500 Index. J. C. Penney will replace Aeropostale Inc. (ARO) in the S&P MidCap 400 and Aeropostale will displace Corinthian Colleges Inc. (COCO) in the S&P SmallCap 600 after the close of trading on November 29.

S&P stated that J. C. Penney's and Aeropostale's market capitalizations are now more representative of the mid cap market and small cap market spaces respectively.

Texas-based J.C. Penney shares have fallen more than 50 percent to $8.87 this year. JCP stock closed Friday at $8.87, down $0.30 or 3.27%, on a volume of 25.09 million shares. In after hours, the stock further declined $0.14 or 1.58% at $8.73.

Additionally, S&P 500 constituent Ingersoll-Rand plc (IR) is spinning off Allegion to shareholders in a transaction expected to be effective after the close of trading on that date. Ingersoll-Rand will remain in the S&P 500 after the spin-off.

Corinthian Colleges' low stock price and market capitalization make it no longer suitable for the S&P SmallCap 600, S&P noted.

Further, Anika Therapeutics Inc. (ANIK) will replace Symmetricom Inc. (SYMM) in the S&P SmallCap 600 after the close of trading on November 26. S&P SmallCap 600 constituent Microsemi Corp. (MSCC) is acquiring Symmetricom in a deal expected to be completed soon pending final approvals.