Tag: NASDAQ

Appeals Court Shoots Down Challenges to Nasdaq Rule Requiring Companies to Have at Least Two ‘Diverse’ Board Members

Pennsylvania Daily Star Staff

A federal appeals court rejected challenges Wednesday to a Nasdaq rule mandating that companies listed on the exchange have a female and an underrepresented minority on their board, or explain why they cannot meet the requirement.

The Fifth Circuit Court of Appeals shot down lawsuits filed by the National Center for Public Policy Research and the Alliance for Fair Board Recruitment against the Securities and Exchange Commission (SEC) for approving the rule in August 2021. The rule requires Nasdaq-listed companies to provide information on gender, racial and LGBTQ+ status of their board of directors, mandating that at least two board members fall into one of those “diverse” categories.

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Nasdaq Expected to Underperform the S&P 500 for First Time in over Five Years

Pennsylvania Daily Star Staff

The Nasdaq Composite, a technology-heavy index of publicly-traded companies, is set to underperform the S&P 500 for the first time since 2016, according to CNBC.

The S&P 500, a stock market index consisting of the 500 largest publicly-traded companies in the U.S., climbed 28% in 2021 as of Monday, while the Nasdaq was up 23% on a year-over-year basis, according to CNBC. The S&P 500 previously beat the Nasdaq in 2016 and 2011.

The Nasdaq had a strong start to 2021, almost doubling the S&P 500 in February, CNBC reported. Trading slowed after the arrival of the COVID-19 vaccines, which boosted sentiment among investors that the pandemic was ending, reducing demand for remote work technology and other tech-focused goods.

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