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).