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"Bank of America, Alcoa and Hewlett-Packard will be dropped from the Dow Jones Industrial Average and replaced by Nike, Visa and Goldman Sachs, various outlets are reporting.
The change, which will come when trading closes on Sept. 20, according to the Wall Street Journal, will be the Dow's most dramatic shakeup in a decade. In a statement to the WSJ, the S&P Dow Jones Indices LLC, which is responsible for the Dow, said that the move was "prompted by the low stock price of the three companies slated for removal and the Index Committee's desire to diversify the sector and industry group representation of the index."
This is a developing story, check back for updates. "
"Bank of America, Alcoa and Hewlett-Packard will be dropped from the Dow Jones Industrial Average and replaced by Nike, Visa and Goldman Sachs, various outlets are reporting.
The change, which will come when trading closes on Sept. 20, according to the Wall Street Journal, will be the Dow's most dramatic shakeup in a decade. In a statement to the WSJ, the S&P Dow Jones Indices LLC, which is responsible for the Dow, said that the move was "prompted by the low stock price of the three companies slated for removal and the Index Committee's desire to diversify the sector and industry group representation of the index."
This is a developing story, check back for updates. "