The Goldman Sachs Group Inc.
GS will replace Bank of America Corp. BAC, Visa Inc. V
will replace Hewlett-Packard Co. HPQ, and Nike Inc. NKE will
replace Alcoa Inc. AA in the Dow Jones Industrial Average (DJIA) after
the close of trading on Friday, September 20. The changes will be effective
with the opening of trading on Monday, September 23. The index changes were
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.
The Goldman Sachs Group, headquartered in New York, NY, provides investment
banking, securities, and investment management services, as well as financial
services to corporations, financial institutions, governments, and
high-net-worth individuals worldwide.
Visa, headquartered in San Francisco, CA, is a payments technology company
that engages in the operation of retail electronic payments network worldwide.
Nike, headquartered in Beaverton, OR, engages in the design, development,
marketing, and sale of athletic footwear, apparel, equipment, and accessories.
The changes won't cause any disruption in the level of the Index. The divisor
used to calculate the DJIA from its components' prices on their respective
home exchanges will be changed prior to the opening on September 23. This
procedure prevents any distortion in the DJIA's reflection of the U.S. stock
market.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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