Thursday, June 4, 2015
Oil Companies Cut from Nasdaq Sustainability Index
As a result of the re-ranking, the following six oil securities will be removed from the Index:
1. The Hess Corporation is an American integrated oil company headquartered in New York City, and a Fortune 100 corporation. The company explores, produces, transports, and refines crude oil and natural gas
2. Exxon Mobil an American multinational oil and gas corporation headquartered in Irving, Texas, United States
3. Royal Dutch Shell commonly known as Shell, is an Anglo–Dutch multinational oil and gas company headquartered in the Netherlands and incorporated in the United Kingdom.
4. Statoil an international energy company present in more than 30 countries around the world.
5. ENI an Italian multinational oil and gas company headquartered in Rome
6. Petroleo Brasileiro SA Petrobras is a Brazil-based integrated oil and gas company
Two mining companies will also be removed from the Index, they are:
1. Rio Tinto, a British-Australian multinational metals and mining corporation focused on finding, mining and processing the Earth's mineral resources. Corporate headquarters are in London, United Kingdom
2. Vale S.A. is a Brazilian multinational diversified metals and mining corporation and one of the largest logistics operator.
Other companies that were excluded from the list include ASA and NetApp.
The following nine securities will be added to the Index: Adobe Systems, Autodesk, Campbell Soup Company, Consolidated Edison, DirecTV, FedEx, NRG Energy, Tesla Motors and Verizon. The next evaluation is due in November.
Posted by Richard Matthews