Rivian, GlobalFoundries Joining Nasdaq 100 Index; Apple Chipmaker, China Stocks Falling Off

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Tesla (TSLA) rival Rivian Automotive (RIVN) and chip foundry GlobalFoundries (GFS) are among six stocks that will join the Nasdaq 100 index before the open on Dec. 19, while Apple (AAPL) chipmaker Skyworks Solutions (SWKS) and China search engine giant Baidu (BIDU) are among the looming deletions.

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Nasdaq (NDAQ) announced late Friday that Rivian stock, Global Foundries, CoStar Group (CSGP), Warner Bros. Discovery (WBD), GlobalFoundries, Baker Hughes (BKR) and Diamondback Energy (FANG) 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 (VRSN), Splunk (SPLK), Baidu, Match Group (MTCH), DocuSign (DOCU), NetEase (NTES) and SWKS stock will drop off.

The Nasdaq 100 index includes the 100 largest non-financial companies listed on the Nasdaq. Apple stock, Microsoft (MSFT), Google parent Alphabet (GOOGL), Amazon.com (AMZN), Nvidia and Tesla stock are currently the largest weights on the Nasdaq 100.

Please follow Ed Carson on Twitter at @IBD_ECarson for stock market updates and more.

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