NEW YORK, (Nov. 15, 2011) — Marriott Vacations Worldwide Corp. [[VACwi]] will replace LoJack Corp. (NASD:LOJN) in the S&P SmallCap 600 index after the close of trading on Monday, November 21. S&P 500 constituent Marriott International Inc. (NYSE:MAR) is spinning off Marriott Vacations Worldwide in a transaction expected to be completed on or about that date pending final approvals. Marriott International will remain in the S&P 500 index. LoJack’s market capitalization is below $55 million, and is no longer representative of the small cap market space.
S&P Indices will monitor this transaction, and post any relevant updates on its website: www.standardandpoors.com
Marriott Vacations Worldwide engages in the development, marketing, sale, and management of vacation ownership resorts and vacation club, and destination club and exchange programs. Headquartered in Orlando, FL, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Hotels Resorts & Cruise Lines Sub-Industry index.
Following is a summary of the change:
|S&P SMALLCAP 600 INDEX – November 21, 2011|
|COMPANY||GICS ECONOMIC SECTOR||GICS SUB-INDUSTRY|
|ADDED||Marriott Vacations Worldwide||Consumer Discretionary||Hotels Resorts & Cruise Lines|
|DELETED||LoJack||Information Technology||Electronic Equipment & Instruments|
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SOURCE Standard & Poor’s