BlackBerry maker RIM booted from NASDAQ-100 index
The NASDAQ OMX Group on Friday announced some upcoming shuffling in its NASDAQ-100 index, a collection of securities representing the 100 largest non-financial companies on its exchange. Prior to market open on Monday, December 24th, Analog Devices, Discovery communications, Western Digital and seven more companies will be added to the index while Netflix (NFLX), Electronic Arts (EA), and BlackBerry maker Research In Motion (RIMM) will be among the 10 securities pulled from the NASDAQ-100 index.
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“Since its inception, the NASDAQ-100 Index has evolved into a world-renowned brand that includes the 100 largest non-financial stocks listed on The NASDAQ Stock Market,” NASDAQ OMX Executive Vice President John L. Jacobs said in a statement. “The securities being added to the NASDAQ-100 Index will join Facebook (FB), Costco, Apple (AAPL), Google (GOOG) and other household names that are leading the new economy forward. Our objective re-ranking process ensures the NASDAQ-100 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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RIM has had a remarkably difficult year but will look to reverse recent trends when it unveils its first two BlackBerry 10 smartphones during a press conference on January 30th and launches them soon after.
Shares of RIM stock closed up 1.3% at $14.04 on Friday, before the NASDAQ made its announcement at 5:00 p.m. Eastern.
This article was originally published by BGR
