CareFusion is being spun off by Cardinal Health Inc. around Aug. 31. Cardinal Health will remain a component of the widely tracked index.
As of Monday, Manitowoc Co. Inc., a Wisconsin-based construction and foodservice equipment maker, had a market capitaliziation below $900 million, ranking it 500th in the index.
The company's stock fell 31 cents, or 4.5 percent, to $6.54 in after-hours trading, having closed the regular session at $6.85. Shares of companies removed from the S&P 500 often decline, since many investment portfolios are linked to the index and must divest non-components.
