Shares of Apple Inc. (NASDAQ: AAPL) dropped more than 1% in Tuesday's pre-market trading Nasdaq OMX Group Inc. said that the NASDAQ 100 will undergo a Special Rebalance, which will cut Apple's weighting in the index. Nasdaq said the Special Rebalance will bring the weights of the Index Securities closer in line with their actual market capitalizations. The rebalance will be effective prior to market open on Monday, May 2, 2011. Apple is currently 20 percent of the index. After the rebalancing its share will be 12 percent.
Microsoft Corp. (NASDAQ: MSFT) rallied more than 2% in Tuesday's pe-market trading after Nasdaq OMX Group Inc. said that weighting for Microsoft, which has a market value of $214.7 billion, will be increased to 8.32 percent.
Cisco Systems, Inc. (NASDAQ: CSCO) rose more than 1% in pre-market trading after Nasdaq OMX Group Inc. said that its weighting in the index will be boosted to 3.66 percent from 1.56 percent.
Diamond Foods Inc. (NASDAQ: DMND) surged more than 7% after it agreed to buy Proctor & Gamble Co.'s (NYSE: PG) Pringles brand in a transaction valued at $2.35 billion.
Shares of Duoyuan Global Water Inc. (NYSE: DGW) plunged more than 10% in Tuesday's pre-market trading, a day after the company announced that its Chief Financial Officer Stephen Park is resigning from the firm.
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