Last week, Nasdaq OMX Group (NDAQ) announced that the California-based social network will be joining three indices prior to the market opening on Dec. 12. Facebook will join the NASDAQ-100 Index, the NASDAQ-100 Equal Weighted Index, and the NASDAQ-100 Technology Sector Index.
Facebook will replace Infosys (INFY) in the index.
Priceline.com (PCLN - Get Report) shares fell 4.18% to $631.54 on heavy volume, as Deutsche Bank downgraded the stock to "hold." Analyst Ross Sandler downgraded the stock on fears of competition in Priceline's core European market, as a "cold war" may heat up. Sandler cited Expedia (EXPE) getting more aggressive acquiring customers, the concerns on the shift to mobile search, and Google (GOOG) eventually going "..deeper into travel vertical search once its regulatory issues are resolved." Traders have been taking profits on names ahead of the fiscal cliff on stocks that have done well in 2012, amidst worries that tax rates will go higher in 2013. Priceline, the online travel company, has enjoyed a strong run year-to-date, gaining 35.69%. Interested in more on Priceline? See TheStreet Ratings' report card for this stock. -- Written by Chris Ciaccia in New York. >Contact by Email. Follow @Commodity_Bull