Facebook joins the NASDAQ,RIM and Netflix
The news that Facebook joined the NASDAQ-100, an index comprised of the 100 largest non-financial stocks listed on The NASDAQ Stock Market, Netflix and troubled BlackBerry maker RIM have been dropped. These changes will come into effect on Monday, December 24, 2012.
This update serves as yet another sign of decline for RIM, as the company gears up to launch its BlackBerry 10 OS this January. Facing fierce competition from the likes of iOS and Android, RIM has experienced a massive drop in market share over the past few years.
Netflix has faced struggles as well, particularly following its pricing/Qwikster debacle, although recently it beat analyst expectations in its Q3 earnings report.In addition to Netflix and RIM, eight other companies were removed from the list as well: Electronic Arts Inc., Marvell Technology Group Ltd., Flextronics International Ltd., Green Mountain Coffee Roasters Inc., Lam Research Corporation, VeriSign, Inc. and Warner Chilcott plc.
Conversely, the following 10 securities have been added:- Analog Devices, Inc,Catamaran Corporation, Discovery Communications, Inc., Equinix, Inc., Liberty Global, Inc., Liberty Media Corporation, Regeneron Pharmaceuticals, Inc., SBA Communications Corporation, Verisk Analytics, Inc. and Western Digital Corporation.According to NASDAQ, its objective re-ranking process ensures remains a relevant investable index that is the underlying benchmark for about 7,100 products in 22 countries with a notional value of about $1 trillion.
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