The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the results of the quarterly re-ranking of the NASDAQ Q-50 Index (Nasdaq:NXTQ), which will become effective prior to market open on Monday, September 22, 2014.
The following six securities will be added to the Index: Flextronics International Ltd. (Nasdaq:FLEX), Golar LNG Limited (Nasdaq:GLNG), Medivation, Inc. (Nasdaq:MDVN), NetEase, Inc. (Nasdaq:NTES), Nuance Communications, Inc. (Nasdaq:NUAN) and SolarCity Corporation (Nasdaq:SCTY).
NASDAQ Q-50 Index is a market-capitalization weighted index designed to track the performance of securities that are next-eligible for inclusion into the NASDAQ-100 IndexSM. The Index is comprised of 50 securities ranked by market capitalization and reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade, and biotechnology. It does not contain securities of financial companies including banking and investment companies, as these are ineligible for NASDAQ-100 Index inclusion.
As a result of the re-ranking, the following six securities will be removed from the Index: ARM Holdings plc (Nasdaq:ARMH), FireEye, Inc. (Nasdaq:FEYE), Fossil Group, Inc. (Nasdaq:FOSL), Gulfport Energy Corporation (Nasdaq:GPOR), Intercept Pharmaceuticals, Inc. (Nasdaq:ICPT) and Splunk, Inc. (Nasdaq:SPLK).
NASDAQ OMX Global Indexes has been creating innovative, market-leading, transparent indexes since 1971. Today, our index offering spans geographies and asset classes and includes diverse families such as the Dividend Achievers, Global, Nordic, Green Economy, Sharia and Commodity Indexes. We continuously offer new opportunities for financial product sponsors across a wide-spectrum of investable products and for asset managers to measure risk and performance. NASDAQ OMX Global Indexes also provides custom index services and design solutions to selected financial organizations.
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