Mead Johnson Nutrition (MJN) -- the makers of the popular infant formula Enfamil -- stand to benefit from parents' desire to take care of their children, even in the hardest of economic situations.

The company -- which spun off from Bristol-Myers Squibb Co. (BMY) in February 2009 -- had a somewhat disappointing earnings announcement last week due to rising administrative and advertising costs. But if emerging market sales can continue to improve, Mead Johnson looks like a good buy.

Standard & Poor's is performing some end-of-year cleanup on its benchmark index, the S&P 500 Index (SPX). My colleague Mark Fightmaster reported earlier that Visa (V) is set to replace Ciena Corp. (CIEN) on the widely watched market barometer, but that's not the only SPX development hitting Wall Street today. In fact, struggling insurance issue MBIA Inc. (MBI) is preparing to take its leave from the venerable index.

In a press release late Friday, Standard & Poor's explained that MBIA "currently ranks 500th in the index and is no longer representative of the S&P 500 index market cap space." The beaten-down insurance company will be replaced by Mead Johnson Nutrition (MJN), which is in the process of being spun off by Bristol-Myers Squibb (BMY).

This week, there was some hope that we might see signs of relief in the IPO market. But, with the massive sell-off yesterday, those hopes are dimmed.

Yet, there was one deal that was able to get off the ground: Mead Johnson Nutrition (NYSE: MJN). The company, which has been a part of Bristol-Myers Squibb Co. (NYSE: BMY) since 1967, is a leader in the baby formula business.

Mead was able to price its IPO at $24, which was at the top-end of its $21-$24 round. In all, the company issued 30 million shares.

No doubt, Mead is a solid company, with about $2.6 billion in sales (last year). The company has a portfolio of over 70 products that are distributed across 50 countries.