Subprime Mortgage Lender New Century Dumped From S&P Index

After a particularly rough last week or so, subprime lender New Century Financial Corporation will get to spend until the close of business Wednesday on Standard & Poor's S&P SmallCap 600 index, at which point it will be replaced by Ruth's Chris Steak House Inc. The announcement was made late Monday after New Century's shares took another beat down, this time to the tune of almost 70%, closing at $4.56.

Source: Ruth's Chris to join S&P SmallCap 600, reported at BusinessWeek.com
.