Ariz. firms added, removed in Russell index
Austen Sherman - Jun. 22, 2010 04:20 PM
The Arizona Republic
The Russell 3000 Index recently released its preliminary lists of additions and deletions, with three Arizona-based companies making the index, and three other Valley companies being removed.
The index measures the performance of 3,000 publicly held U.S. companies based on total market capitalization, which represents about 98 percent of the investable U.S. equity market.
Each June, Russell reconstitutes its indexes to make sure they are a true reflection of the markets.
The three Arizona-based companies joining the index this year are Rural/Metro Corp. and Hypercom Corp. of Scottsdale and Applied Energetics Inc. of Tucson.
Rural/Metro provides medical transportation, fire protection and safety-related services. Hypercom develops electronic-payment and digital-transaction technologies, while Applied Energetics manufactures energy systems for military and commercial applications.
The three Arizona companies being removed from the Russell 3000 Index are Imergent Inc. of Phoenix and Matrixx Initiatives Inc. and NightHawk Radiology Hldg. of Scottsdale, which will be moved to the Microcap Index, the smallest Russell index, when the reconstitution is finalized June 28.
Imergent provides e-commerce technology and training to entrepreneurs. Matrixx is the pharmaceutical company behind the Zicam line of cold and allergy remedies. NightHawk provides services and technology to radiology groups and hospitals throughout the U.S.
The Russell Indexes serve as a performance standard for active money managers, and can be purchased as stock by investors.
Read more: azcentral.com |
