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Russell index reconstitution means musical chairs for San Diego firms

Monday, July 3, was the first trading day for the reconstituted Russell indexes. The Russell U.S. index reconstitution is done on a yearly basis to reflect changes in market characteristics. San Diego-based firms were affected by the changes.

The Russell 3000 Index measures the performance of the 3,000 largest American companies. It can be split into the Russell 1000, which measures the largest 1,000 companies, and the Russell 2000, which measures 2,000 smaller companies. It bases the companies it measures on total marketable capitalization. The Russell 3000 altogether measures the performance of about 98 percent of the investable U.S. equity market.

The Russell Microcap Index measures performance of the microcap segment, representing less than 3 percent of the U.S. equity market. The Russell Microcap Index includes the smallest 1,000 securities in the small-cap Russell 2000 Index plus the next 1,000 securities.

The following companies were added to the Russell 3000 Index

Adventrx Pharmaceuticals (AMEX: ANX); Industry: Biotech

Anadys Pharmaceuticals (Nasdaq: ANDS); Industry: Biotech

Leap Wireless International Inc. (Nasdaq: LEAP); Industry: Wireless Communications

Maxwell Technologies Inc. (Nasdaq: MXWL); Industry: Energy Storage

Metabasis Therapeutics (Nasdaq: MBRX); Industry: Biotech (Company was also added to Russell Microcap Index)

PriceSmart Inc. (Nasdaq: PSMT); Industry: Retail

Quidel Corp. (Nasdaq: QDEL); Industry: Diagnostic Tests

Santarus Inc. (Nasdaq: SNTS); Industry: Biotech

The following companies were deleted from the Russell 3000 Index

Dot Hills Systems Corp. (Nasdaq: HILL); Industry: Data Storage

Encore Captial Group Inc. (Nasdaq: ECPG); Industry: Consumer Receivables

Nanogen Inc. (Nasdaq: NGEN); Industry: Biotech

Stratagene Corp. (Nasdaq: STGN); Industry: Biotech

The following companies were added to the Russell Microcap Index

InfoSonics Corp. (AMEX: IFO); Industry: Electronics

K2 Inc. (Nasdaq: KTO); Industry: Sports Equipment

La Jolla Pharmaceutical (Nasdaq: LJPC); Industry: Biotech

MicroIslet Inc. (Nasdaq: MII); Industry: Biotech

Micromet Inc. (Nasdaq: MITI); Industry: Biotech (Formerly Cancervax)

The following companies were deleted from the Russell Microcap Index

AMN Healthcare Services (Nasdaq: AHS); Industry: Healthcare Staffing

Arena Pharmaceuticals (Nasdaq: ARNA); Industry: Biotech

BOFI Holding Inc. (Nasdaq: BOFI); Industry: Retail Banking

CardioDynamics International Corp. (Nasdaq: CDIC); Industry: Medical

Cryocor Inc. (Nasdaq: CRYO); Industry: Biotech

Discovery Partners International (Nasdaq: DPII); Industry: Biotech (Company reverse merging with Infinity Pharmaceuticals Inc.)

Illumina Inc. (Nasdaq: ILMN); Industry: Biotech

Kintera Inc. (Nasdaq: KNTA) Industry: Software

Xenonics Holdings Inc. (AMEX: XNN); Industry: Lighting

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