Nasdaq 100 Index Reshuffles member companies
By KAREN TALLEY
DOW JONES NEWSWIRES
December 10, 2005; Page B4
Google Inc. has leapfrogged its way into the Nasdaq-100 Index of the largest nonfinancial stocks.
The Internet search engine's stock is being added this month because it has grown so big on a market capitalization basis, that it doesn't have to wait the usual two years of being public for inclusion. Google became a publicly traded company in August of 2004.
Google is among 12 companies that are being added to the tech-stock-heavy index in the annual rebalancing that takes place around this time every year.
Other companies to be added include Expedia, Nvidia, Cadence Design Systems, Activision, Red Hat and Monster Worldwide.
But the index also includes some variety in its additions, like Patterson-UTI Energy, Urban Outfitters and Discovery.
Those being deleted include Career Education, Dollar Tree Stores, Level 3 Communications and Millennium Pharmaceuticals.
Companies are chosen based on, among other criteria, their market capitalization and their liquidity, or ease of trading. Companies are deleted because they become too small for inclusion.
The newly rebalanced Nasdaq-100 list was released after Friday's stock-market close. The new stocks will start trading on Dec. 19. |
