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Posted on 12/12/2005 9:02:26 AM PST by N3WBI3
NEW YORK--The Nasdaq Stock Market on Friday announced changes to its widely watched Nasdaq-100 Index--comprised of the hundred biggest non-financial companies trading on the Nasdaq--as 12 high flyers such as Google replaced laggards such as Sanmina-SCI.
Besides Google, whose shares have soared 113 percent this year, the companies said to joining the index were: Activision, Cadence Design Systems, CheckFree, Discovery Holding, Expedia, Monster Worldwide, NII Holdings, Nvidia, Patterson-UTI Energy, Red Hat and Urban Outfitters.
The changes, effective at the start of trading Dec. 19, are good news for shareholders in those companies, since many fund managers who track or try to recreate the index will be forced to buy these shares.
The Nasdaq-100 Tracking Stock, an exchange-traded fund better known as "cubes" due to its trading symbol, has been the most actively traded equity security listed in the U.S. The fund has amassed $20 billion in assets.
Nine international funds and 22 U.S. mutual funds have been linked to the index, which also serves as a benchmark for some 400 related options, futures and other products.
Meanwhile, 12 companies were kicked out of the index as their stock prices and market value fell.
Besides Sanmina, whose shares fell 50 percent this year, the companies announced as being removed from the index were: Career Education, Dollar Tree Stores, Intersil, Invitrogen, Level 3 Communications, Millennium Pharmaceuticals, Molex, Novellus Systems, QLogic, Synopsys and Smurfit-Stone Container.
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But, but, communism!
RH's exactly where it should belong--right up there with MS (it's also on the Nasdaq 100).
Though I gotta admit, it should be fun to watch GE deny, deny, deny.
It is good news. I am all for competition and this can only benefit both the MS and Linux worlds.
Oh, I'm sure they still have their hammers and sickles. They probably cram them into their briefcases - Under the TPS reports :)
Comrade: you are not to discuss TPS reports. Didn't you get the memo?
I dont think he did, Ill just send him a copy..
this is horrible news for the american software market.
American software makers like red hat........
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