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Netflix to join the Nasdaq-100 index next week

Netflix to join the Nasdaq-100 index next week, replacing Perrigo

Associated Press

NEW YORK (AP) -- Netflix will join the Nasdaq 100 index next month.

The Los Gatos, Calif., company will replace Perrigo Co., a maker of over-the-counter drugs. Perrigo announced last week that it is transferring its stock listing to the New York Stock Exchange from the Nasdaq.

Netflix said that in addition to the Nasdaq 100, it will join the Nasdaq 100 Equal Weighted Index and the Nasdaq 100 Ex-Technology Sector Index before the market opens Thursday.

Shares of Netflix Inc. stock added 34 cents to $223 in premarket trading on Friday. Its shares have more than doubled in value so far this year and a move to the Nasdaq 100 probably won't hurt, either, with some investment funds requiring a percentage of capital be placed there.