PG&E to get pulled out of S&P 500, shares near 2001 lows
Reuters
Published Jan 16, 2019 12:18PM ET
PG&E to get pulled out of S&P 500, shares near 2001 lows
** Embattled power utility company PG&E Corp (N:PCG) will be replaced by healthcare equipment maker Teleflex Inc (N:TFX) in the S&P 500 (SPX) on Friday
** PG&E shares were down 4.1 pct, trading near 2001 lows following its plans to seek Chapter 11 protection in the wake of large potential claims related to California's catastrophic wildfires
** Session's decline bring PCG's WTD decline to ~61 pct; Co said on Sunday CEO Geisha Williams (NYSE:WMB) stepped down and announced bankruptcy protection plans on Monday
** Teleflex will be replaced by consumer finance co Green Dot (O:GDOT) in the S&P MidCap 400 index, S&P Global (NYSE:SPGI) said; TFX shares dip 1.2 pct
** Softwood pulp producer Mercer International Inc (O:MERC) will replace Green Dot in S&P SmallCap 600 index; MERC jumps 15.7 pct and GDOT drops 2.7 pct
** Changes will be reflected before trading opens on Friday, S&P said
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Written By: Reuters
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