Google to join NASDAQ-100 Index
Search engine giant Google is set to join the NASDAQ-100 Index. The Nasdaq Stock Market Inc. announced this week the changes they are going to bring to their widely watched NASDAQ-100 Index. This index consists of the hundred biggest non-financial companies trading on the NASDAQ.
A total of 12 new companies would be entering this top 100 list of companies. The other companies making the cut include NII Holdings Inc., Expedia Inc., Patterson-UTI Energy Inc., NVIDIA Corp., Urban Outfitters Inc., Cadence Design Systems Inc., Activision Inc., Red Hat Inc., Monster Worldwide Inc., CheckFree Corp. and Discovery Holding Co.
Google launched their IPO sometime back and have seen a phenomenal rise in its stock value in the recent times. The stock has traded at more than 100 USD in the market, which the experts believe is a lot more than its actual worth. The changes in NASDAQ would be effective at the start of trading December 19.
Some of the companies which are being replaced by these new entries include: Career Education Corp., Dollar Tree Stores Inc., Intersil Corp., Invitrogen Corp., Level 3 Communications Inc., Millennium Pharmaceuticals Inc., Molex Inc., Novellus Systems, QLogic Corp., Synopsys Inc. and Smurfit-Stone Container Corp.