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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (46957)	12/9/2005 7:46:22 PM
From: ild	Respond to of 110194

SAN FRANCISCO (Dow Jones)--Search giant Google Inc. (GOOG) will join the Nasdaq 100 Index when the closely followed technology benchmark is rebalanced this month, the Nasdaq Stock Market said late Friday. Eleven other stocks, including Cadence Design Systems Inc. (CDNS), Expedia Inc. (EXPE) and Monster Worldwide Inc. (MNST), will become part of the index when the rebalancing kicks in on the morning of Dec. 19, the Nasdaq added. Companies dropping out of the index include Level 3 Communications Inc. (LVLT) , Novellus Systems Inc. (NVLS) and Sanmina-SCI Corp. (SANM), the stock market said. The Nasdaq 100 tracks the performance of the 100 largest nonfinancial companies trading on the technology-heavy Nasdaq. About 400 investment products in 34 countries with a notional value of about $120 billion are based on the benchmark. An exchange-traded fund called the Nasdaq-100 Trust (QQQQ) is considered a proxy for technology companies. More than 90 million shares of that ETF trade every day, making it the most actively traded equity security in the U.S., according to Nasdaq. Because the Nasdaq 100 is so closely followed, stocks that join the index can sometimes get a boost, while those that drop out can face selling pressure. The following companies are joining the index, along with Cadence, Expedia, Google and Monster: Activision Inc. (ATVI), CheckFree Corp. (CKFR), Discovery Holding Co. (DISCA), NII Holdings Inc. (NIHD), Nvidia Corp. (NVDA), Patterson- UTI Energy (PTEN), Red Hat Inc. (RHAT) and Urban Outfitters Inc. (URBN). These companies are dropping out of the Nasdaq 100: Career Education Corp. ( CECO), Dollar Tree Stores Inc. (DLTR), Intersil Corp. (ISIL), Invitrogen Corp. ( IVGN), Level 3, Millennium Pharmaceuticals Inc. (MLNM), Molex Inc. (MOLX), Novellus, QLogic Corp. (QLGC), Sanmina-SCI, Synopsys Inc. (SNPS) and Smurfit- Stone Container Corp. (SSCC)