Nasdaq's RIM shot: BlackBerry maker ejected from top 100
Canadians forced to hang out with Netflix, EA
A US index of top performing non-financial companies has booted out RIM, Netflix and Electronic Arts after the trio's fortunes fell too far.
The Nasdaq-100 is updated every year and is broadly based on market capitalisation with some weighting. The disappointing share performance of the former tech darlings led to their removal from the list, and the decision shouldn't come as a surprise for anyone watching the triumvirate. Nasdaq managed to squeeze Facebook onto the list, meanwhile.
RIM's problems are well documented: the company plans to launch new hardware using a new OS next month. The BlackBerry maker's future certainly depends on the popularity of its new handsets; anyone buying RIM shares is gambling on that, and it seems not enough people are willing to take a punt on the future of BlackBerry.
Online video biz Netflix, meanwhile, faffed about with its DVD operation and didn't get an expected content deal with HBO, but is far from dying even if Microsoft doesn't buy it, as rumoured. Electronic Arts has been pissing money into Star Wars: The Old Republic, but that project could reap dividends - being off Nasdaq's top list isn't a disaster even if it's quite a nice thing to be on.
It's another sign of RIM's decline, which the Canadian company is trying to arrest by hanging on to as much market as possible until its handset launch in six weeks, by which time the world will decide whether or not RIM is ever going to rejoin the top of the tree. ®