The Russell 3000 Index said it expects to add six Minnesota companies to its list later this month.
The Russell 3000 is a large cap index of the top 3,000 U.S. stocks. The new Minnesota additions are: St. Paul-based Cardiovascular Systems, Minnetonka-based Communications Systems, Mankato-based HickoryTech Corp., St. Paul-based Medtox Scientific Inc., Minnetonka-based Uroplasty and Eden Prairie-based ValueVision Media Inc.
The companies were among 186 businesses that are expected to be added to the index. A little over 100 companies are expected to be deleted from the list, including Stewartville-based Rochester Medical and Hutchinson Technology, which announced layoffs earlier this year, according to the Russell 3000's website.
"In a capital market that has been buffeted by more than a few jolts in the past year, the U.S. broad-market-as reflected by the Russell 3000- has grown by $3.3 trillion," said Steve Wood, chief market strategist for North America at Russell Investments. "It's been a slog, but the U.S. market has ground upward in the past year."
Staff writer Patrick Kennedy contributed to this report.
