Sunday 9 December 2012

Facebook to Replace Infosys on Nasdaq-100

Facebook is slated to replace Infosys on the Nasdaq-100 Index next week.

The more than 1 billion user social network will take the slot on the index, now held by the India-based business technology company, before the start of trading on Dec. 12. The move comes nearly seven months after Facebook's $16 billion initial public offering.

The Nasdaq-100 includes the 100 largest non-financial securities trading publicly. Facebook, with its $30 billion market capitalization, was a clear candidate for the index. Infosys has a market capitalization worth just over $24 billion.

The Nasdaq previously barred companies from the list until after a two-year waiting period, but the market in April shortened that to three months.

A Bloomberg report citing unnamed sources said the truncated wait time was a negotiating point with Facebook as the company considered listing on the Nasdaq or the New York Stock Exchange.

Facebook stock prices rose nearly 1 percent to $27.73 on Wednesday afternoon.

Source: http://www.thewrap.com/media/column-post/facebook-usurp-infosys-nasdaq-100-68016

Ehrinn Cummings Jamie Gunns America Ferrera

Source: http://rodelscuebe.typepad.com/blog/2012/12/facebook-to-replace-infosys-on-nasdaq-100.html

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