Akamai Technologies, Inc. Added to the Russell 3000 Index and Russell 2000 Index.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--July 17, 2001
Akamai Technologies, Inc. (Nasdaq: AKAM AKAM Akamai Technologies, Inc. (stock abbreviation)
AKAM Automated Key Access Machine ), the leading provider of distributed application and content delivery services See CDN. , announced today that the Company has been added to the Russell 3000(R) Index and Russell 2000(R) Index as part of Frank Russell Company's annual index rebalancing Rebalancing
The process of realigning the weightings of one's portfolio of assets.
For example, if your portfolio's proportion of stock has grown too large for your intended assets weightings and risk tolerance, you might rebalance by selling some stock and putting process. Index membership went into effect July 1, 2001, and remains in place for one year.
"As Akamai grows and moves rapidly toward profitability, we are attracting attention from a wider investor base," said Timothy Weller, CFO See Chief Financial Officer. at Akamai. "Inclusion in the Russell Indexes Russell Indexes
US equity index widely used by pension and mutual fund investors that are weighted by market capitalization and published by the Frank Russell Company of Tacoma, Washington. accelerates this process and we look forward to gaining new shareholders."
Membership in Russell's 21 U.S. equity indexes--widely used by investment managers as benchmarks for both passive and active investment strategies--is determined strictly by market capitalization Market Capitalization
A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. rankings and style attributes, rather than by subjective opinion or committee decisions.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May 2001, ranking them by total market capitalization Total Market Capitalization
The total market value of all of a firm's outstanding securities. to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000(R) Index while the remaining 2,000 companies become the widely used Russell 2000(R) Index.
Russell's index methodology excludes limited partnerships, limited liability companies, royalty trusts, closed-ended investment management companies, ADRs, preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders.
Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , pink-slipped companies, OTC bulletin board OTC Bulletin Board
An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. companies, and warrants and rights. The indexes do not include stocks trading below $1 at rebalancing, but real estate investment trusts and IPOs are eligible. Stocks also must be U.S.-domiciled.
Frank Russell Company, a global investment services firm, provides manager-of-manager investment products and services in more than 35 countries. Russell manages $66 billion in assets and advises clients representing more than US$1 trillion worldwide. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to www.russell.com.
Akamai is the leading provider of distributed application and content delivery services. These services enable companies to reduce the complexity and cost of deploying and operating a uniform Web infrastructure while ensuring unmatched performance, reliability, scalability and manageability. Akamai's services give businesses a distinct competitive advantage and provide an unparalleled Internet experience for their customers. Akamai's intelligent edge platform for content, streaming media, and application delivery comprises more than 9,700 servers within over 650 networks in 56 countries. With headquarters in Cambridge, Massachusetts, Akamai provides services to more than 1,400 companies worldwide. For information on Delivering a Better Internet(SM), visit www.akamai.com.
Akamai Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and
The release contains information about future expectations, plans and prospects of Akamai's management that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors including, but not limited to, the dependence on Akamai's Internet content
delivery service, a failure of its network infrastructure, the complexity of its service and the networks on which the service is deployed, the failure to obtain access to transmission capacity and other factors that are discussed in the Company's Annual Report on Form 10-K and other documents periodically filed with the SEC.