Capstone Turbine Added to Russell 3000 Index List
Business Editors
CHATSWORTH, Calif.--(BUSINESS WIRE)--June 11, 2001--Microturbine
power systems manufacturer Capstone Turbine Corporation
(www.microtubine.com) (Nasdaq: CPST) has been added to the preliminary
list of companies joining the Russell 3000(R) Index.
The index, one of 21 U.S. equity indexes developed by Frank
Russell Company (www.russell.com), is to be rebalanced at the end of
June, according to a Russell press release. Final index membership
will go into effect July 1 and remain in place for one year.
Russell adjusts its indexes annually in order to accurately rank
the 3,000 largest companies in the U.S. stock market by market
capitalization. This realignment allows the indexes to provide a truer
reflection of stock market activity and performance. Annual
reconstitution of the Russell indexes captures the 3,000 largest U.S.
stocks as of the end of May, ranking them by total market
capitalization to create the Russell 3000.
According to the Russell press release, "Membership in Russell's
21 U.S. equity indexes -- widely used as benchmarks for both passive
and active investment strategies -- is determined strictly by market
capitalization rankings and style attributes, rather than by
subjective opinion or committee decisions. This ability to more
accurately reflect market reality is one reason why Russell's
benchmarks are widely used to evaluate investment managers."
"We are pleased to join the Russell 3000, which reflects the
market's valuation of our business and its prospects," said Capstone
CFO Jeffrey R. Watts. |
