Ericsson, XMSR Leave Nasdaq; Focus Media, Hansen Among Joiners

The Nasdaq said late Friday it is removing Ericsson (ERIC), XM Satellite (XMSR), Ross Stores (ROST), Patterson-UTI Energy (PTEN) and Sepracor (SEPR) from its Nasdaq-100 index in its annual re-ranking. Taking their places are Hologic (HOLX), Focus Media Holding (FMCN), Hansen Natural (HANS), Steel Dynamics (STLD) and Stericycle (SRCL).

Membership in a major U.S. index is generally considered a positive for the stock, as mutual funds and ETFs that mimic the index, such as the NASDAQ 100 Trust Shares ETF (QQQQ), must buy the constituent stocks and sell those exiting in order to keep their funds in line with the underlying. The Nasdaq-100 is composed of the 100 largest nonfinancial stocks on the Nasdaq Stock Market.

Sources: Press release

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