NEW YORK, Dec. 12, 2008 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today the annual re-ranking of the NASDAQ-100 Index(r), effective with the market open on Monday, December 22, 2008.
"The NASDAQ-100 Index is a globally recognized brand that includes 100 of the world's most dynamic non-financial companies," said NASDAQ OMX Executive Vice President John L. Jacobs. "Through an objective, transparent re-ranking process, the NASDAQ-100 Index continues its evolution as a relevant, investable benchmark. The NASDAQ-100 represents a diverse range companies and provides investors with a key measure of the performance of the world's leading large-cap growth companies."
The following 11 issues will be added to the NASDAQ-100 Index: Automatic Data Processing, Inc. (Nasdaq:ADP), First Solar, Inc. (Nasdaq:FSLR), Life Technologies Corporation (Nasdaq:LIFE), Ross Stores, Inc. (Nasdaq:ROST), Maxim Integrated Products, Inc. (Nasdaq:MXIM), Illumina, Inc. (Nasdaq:ILMN), Pharmaceutical Product Development, Inc. (Nasdaq:PPDI), O'Reilly Automotive, Inc. (Nasdaq:ORLY), Urban Outfitters, Inc. (Nasdaq:URBN), J.B. Hunt Transport Services, Inc. (Nasdaq:JBHT), and Warner Chilcott Limited (Nasdaq:WCRX).
The NASDAQ-100 Index is composed of the 100 largest non-financial stocks on The NASDAQ Stock Market(r) and dates to January 1985, when it was launched along with the NASDAQ Financial-100 Index(r), which is comprised of the 100 largest financial stocks on NASDAQ(r). These indexes were originally designed to segment NASDAQ into two major industry groups to support media coverage and to act as benchmarks for financial products such as options, futures, and funds. The NASDAQ-100 is re-ranked each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.
On a cumulative price return basis, the NASDAQ-100 Index has returned 797% since inception, although past performance is not indicative of future performance.
The NASDAQ-100 Index is the basis of the PowerShares QQQ Trust (Nasdaq:QQQQ), which aims to provide investment results that, before expenses, correspond with the NASDAQ-100 Index performance. In addition, options, futures and structured products based on the NASDAQ-100 Index and the PowerShares QQQ Trust trade on various exchanges.
As a result of the re-ranking of the NASDAQ-100 Index, the following 11 securities will be removed: Amylin Pharmaceuticals, Inc. (Nasdaq:AMLN), Cadence Design Systems, Inc. (Nasdaq:CDNS), Discovery Communications, Inc.'s Class A Common Stock (Nasdaq:DISCA), Lamar Advertising Company (Nasdaq:LAMR), Leap Wireless International, Inc. (Nasdaq:LEAP) Level 3 Communications, Inc. (Nasdaq:LVLT), PetSmart, Inc. (Nasdaq:PETM), Sirius XM Radio Inc. (Nasdaq: SIRI), SanDisk Corporation (Nasdaq:SNDK), Virgin Media Inc. (Nasdaq:VMED), and Whole Foods Market, Inc. (Nasdaq:WFMI).
About NASDAQ OMX Global Index Group
NASDAQ OMX Global Index Group is engaged in the design, development, calculation, licensing, and marketing of NASDAQ OMX Indexes. NASDAQ OMX Global Index Group specializes in the development of indexes focusing on NASDAQ OMX's brand themes of innovation, technology, growth, and globalization. NASDAQ OMX Global Index Group also provides custom index services and design solutions as a third-party provider to selected financial organizations. For more information about NASDAQ OMX indexes, visit www.nasdaq.com/indexes.
About NASDAQ OMX Group
The NASDAQ OMX Group, Inc. is the world's largest exchange company.
