Tesla rival Rivian Automotive and chip foundry GlobalFoundries are among six stocks that will join the Nasdaq 100 index before the open on Dec. 19, while Apple chipmaker Skyworks Solutions and China search engine giant Baidu are among the looming deletions.
Nasdaq announced late Friday that Rivian stock, Global Foundries, CoStar Group, Warner Bros. Discovery, GlobalFoundries, Baker Hughes and Diamondback Energy will be added as part of an annual reshuffling.
Both Rivian and GFS stock came public in November 2021. Warner Bros. Discovery was forged in April 2022 from AT&TT spinning off its Warner Bros. unit and merging it with Discovery.
Meanwhile, VeriSign, Splunk, Baidu, Match Group, DocuSign, NetEase and SWKS stock will drop off.
RIVN stock tumbled 6.2% to 25.61, a five-month low, as the EV startup walked away from talks with Mercedes-Benz to jointly build an EV van factory in Europe.
GFS stock jumped 5.4% to near multi-month highs. WBD stock advanced 1.6%. BKR stock rallied 3.8% and FANG stock 3.6%, both benefitting from rebound oil prices.
Meanwhile, VRSN stock climbed 1%, SPLK popped 5.3% and DOCU stock leapt 10% on a good day for hard-hit software names. SWKS stock rose 2.3% as MTCH edged down 0.1%. BIDU stock and NetEase fell modestly as many China names retreated.
The Nasdaq 100 index includes the 100 largest non-financial companies listed on the Nasdaq. Apple stock, Microsoft, Google parent Alphabet, Amazon.com, Nvidia and Tesla stock are currently the largest weights on the Nasdaq 100.
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