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NEW YORK, Feb. 10, 2015 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices:

• S&P SmallCap 600 constituent Teledyne Technologies Inc. (NYSE: TDY) will replace Covance Inc. (NYSE: CVD) in the S&P MidCap 400, and Popeyes Louisiana Kitchen Inc. (NASD: PLKI) will replace Teledyne Technologies in the S&P SmallCap 600 after the close of trading on Wednesday, February 18. S&P 500 constituent Laboratory Corporation of America Holdings (NYSE: LH) is acquiring Covance in a deal expected to be completed on or about that date pending final approvals.
• Iridium Communications Inc. (NASD: IRDM) will replace Digital River Inc. (NASD: DRIV) in the S&P SmallCap 600 after the close of trading on Friday, February 13. Private equity firm Siris Capital Group is acquiring Digital River in a deal expected to be completed soon pending final approvals.

Teledyne Technologies manufactures and sells aerospace and defense products.  Headquartered in Thousand Oaks, CA, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Aerospace & Defense Sub-Industry index.

Popeyes Louisiana Kitchen develops, operates, and franchises quick-service restaurants. Headquartered in Atlanta, GA, the company will be added to the S&P SmallCap 600 Restaurants Sub-Industry index.

Iridium Communications provides mobile voice and data communications services through satellite. Headquartered in McLean, VA, the company will be added to the S&P SmallCap 600 GICS Alternative Carriers Sub-Industry index.

Following is a summary of the changes:

Additions to and deletions from S&P  Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.

About S&P Dow Jones Indices

S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 1,000,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.  

S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("S&P"), a part of McGraw Hill Financial. Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

For more information:

David Blitzer 
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices 
(+1) 212 438 3907 
david.blitzer@spdji.com 

David R. Guarino 
Communications 
S&P Dow Jones Indices 
(+1) 212 438 1471 
dave.guarino@spdji.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/teledyne-technologies-set-to-join-the-sp-midcap-400-popeyes-louisiana-kitchen-iridium-communications-to-join-the-sp-smallcap-600-300034168.html

SOURCE S&P Dow Jones Indices