Seagate Jumps; Added to Nasdaq 100 Index

Seagate (STX) shares have jumped sharply this morning after news last night that the stock is being added to the Nasdaq 100 stock index effective with the start of trading on November 10. For reasons that were never entirely clear to the company, Seagate was never included in the S&P 500. (It might be related to the fact that the company is incorporated in the Cayman Islands.) In fact, you could have seen this coming, given the company’s announcement in August that it was shifting its stock listing to Nasdaq from the NYSE. Seagate will replace Monster Worldwide , which recently announced it is moving to the NYSE. (Makes you wonder if Monster is being removed from the index because they decided to shift to the Big Board; or if the events happened in the opposite order.) Seagate today is up 89 cents, or 12.6%, to $7.96; MNST is off 9 cents, or 0.6%, to $13.96. (link)