Melco Crown Entertainment loses place in Nasdaq Q-50 Index

Melco Crown Entertainment was one of 11 companies to have been dropped from the Nasdaq Q-50 Index in a quarterly re-rating of listed firms, the U.S. exchange said.

The re-rating becomes effective from Dec. 22nd.

NASDAQ Q-50 Index is a market-capitalization weighted index designed to track the performance of companies that are next-eligible for inclusion into the NASDAQ-100 Index. The Index is comprised of 50 securities ranked by market capitalization and reflects companies across major industry groups, including computer hardware and software, telecommunications, retail/wholesale trade, and biotechnology.

The 11 companies that were added as replacements included online travel company Expedia and F5 Networks.

Melco has a market capitalization of $12.9 billion. Its shares have been hit hard by the downturn in gambling revenue in Macau and are currently trading down almost 50 percent to their 52-week high hit in March.

 

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