Russell Investments has reported the official lists of companies joining or leaving the Russell 3000 Index. The list of preliminary additions for the index features 186 companies, including 22 initial public offers. Nearly 35 of the newly added firms are from the health care sector, 33 from the financial services sector and 31 from technology.
Exxon Mobil and Apple will continue to be ranked as the largest two companies in the Russell index post the move, while Chevron will become the fourth largest stock. The move will increase the combined market capitalization of stocks in the index to $16.7 trillion from $13.4 trillion as of May 31, 2010 and the median market capitalization by 23% from $802 million in 2010 to $1.04 billion.
Click here for the release from Business Wire.