Nasdaq-100 Shake-Up: These 6 Stocks Are In, 6 Are Out — And It Could Trigger Big Moves

The Nasdaq-100 Index has announced its annual reconstitution, adding six new companies and removing six, effective Dec. 22.

Six Stocks Added, Six Dropped From Index

The six companies being added to the index are: Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY), Ferrovial SE (NASDAQ:FER), Insmed Inc. (NASDAQ:INSM), Monolithic Power Systems, Inc. (NASDAQ:MPWR), Seagate Technology Holdings plc (NASDAQ:STX) and Western Digital Corp. (NASDAQ:WDC).

The six companies being removed from the index are: Biogen Inc. (NASDAQ:BIIB), CDW Corporation (NASDAQ:CDW), GlobalFoundries Inc. (NASDAQ:GFS), Lululemon Athletica Inc. (NASDAQ:LULU), ON Semiconductor Corporation (NASDAQ:ON) and The Trade Desk, Inc. (NASDAQ:TTD).

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AI Boom Lifts Seagate, WD; Alnylam Soars

Seagate Technology Holdings and Western Digital Corp. have been added to the index amid a surge in demand for their storage products amid the artificial intelligence boom. On a year-to-date basis, Seagate’s stock surged 232.96% , while Western Digital’s has climbed 277.04%, as per data from Benzinga Pro.

At the same time, Alnylam Pharmaceuticals, in the third quarter, reported an adjusted earnings of $2.90 per share, a turnaround from a 50-cent loss a year ago. Quarterly sales surged 149% year over year to $1.25 billion, well above the consensus estimate of $977.79 million. The stock surged 70.17%, year-to-date.

Walmart Misses Nasdaq-100, LULU Slumps

Notably, Walmart (NYSE:WMT) switched its listing to Nasdaq too late to be eligible for the Nasdaq-100's annual reconstitution, as the company moved from the New York Stock Exchange after the qualification deadline for inclusion in the tech-heavy index.

On the flipside, Lululemon stock plunged 44.95% year-to-date. The company posted a solid third-quarter earnings beat and lifted its full-year forecast, easing worries over weak North American sales. Despite a 2% dip in America’s revenue, the company posted strong international growth, with revenue up 33% and comparable sales rising 18%.

The NASDAQ reconstitution news comes days after the S&P 500’s quarterly rebalance. Carvana (NYSE:CVNA)  is set to join the S&P 500, along with CRH Plc (NYSE:CRH) and Comfort Systems USA (NYSE:FIX), while LKQ Corp (NASDAQ:LKQ), Solstice Advanced Materials (NASDAQ:SOLS), and Mohawk Industries (NYSE:MHK) are slated for removal from the index.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.