Reuters: Technology News: Facebook to join Russell 3000 index

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Facebook to join Russell 3000 index Jun 11th 2012, 13:59 Tweet Share this Email Print Related News Wall Street rebounds but mood still sour Tue, Jun 5 2012 Facebook comments, ads don't sway most users: poll Mon, Jun 4 2012 Facebook shares plumb new depths, valuation questioned Tue, May 29 2012 Facebook, banks sued over pre-IPO analyst calls Wed, May 23 2012 Analysis & Opinion Counterparties: The BRICs miracle may be ending The hunt for illiquidity Related Topics Tech » Media » Facebook » The Facebook logo is seen on a screen inside at the Nasdaq Marketsite in New York May 18, 2012. Credit: Reuters/Shannon Stapleton By Angela Moon NEW YORK | Mon Jun 11, 2012 9:59am EDT NEW YORK (Reuters) - Facebook Inc is on the preliminary list to join the Russell 3000 index, according to Russell Investments on Monday. Facebook will be the largest addition to the index in market capitalization. The social network giant made a market debut in May. Among other IPO additions to the Russell 3000 are software maker Splunk Inc and financial services provider EverBank Financial Corp. Apple, with market capitalization of $540.2 billion, is expected to replace ExxonMobil with $367.7 billion market cap, as the largest company in the Russell 3000, Russell Investments said. Apple grew its market capitalization by 68 percent in the last year. The combined capitalization of stocks in the Russell 3000, which reflects about 98 percent of the investable U.S. equity universe, will decrease from $16.7 trillion at May 31, 2011 to $15.8 trillion as of May 31, 2012. Similarly, the median market capitalization will decrease from $1.04 billion to $910 million. "Russell's index reconstitution reflects the market decline over the past year. That said, returns have been far from uniform," said Steve Wood, chief market strategist for North America at Russell Investments. "Even as the flare-up in the euro zone crisis, China's slowdown and relatively soft U.S. economic data have weighed on investor sentiment in recent weeks, the global markets showed resilience when viewed over the course of a year. Furthermore, Russell Indexes reflected diverse returns and decreased correlations across global markets in the last year, reinforcing the importance of a well-diversified global multi-asset portfolio approach." (Reporting by Angela Moon; Editing by James Dalgleish) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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