Exxon Mobil, Pfizer and Raytheon to be replaced on the Dow Jones Industrial Average by Salesforce, Amgen and Honeywell.
The S&P Dow Jones Indices announced a major shake-up for the Dow Jones Industrial Average on Monday, switching out three stocks for the second time in a decade and the third time in this millennium.
S&P Dow Jones said the changes were “prompted” by Apple Inc.’s AAPL, +1.19% decision for a 4-for-1 stock split, which will reduce the index’s tech-sector weighting. Apple joined the Dow back in 2015 not long after a stock split, and expects to split its stock again after trading ends Friday — a rare move for a Dow stock.
Apple’s position in the index will change, however. Previously in the No.1 position in the price-weighted index, Apple will slide to No. 17, Silverblatt said. UnitedHealth Group Inc., UNH, -1.68% Home Depot Inc. HD, +1.24% and Amgen will take over the top three spots, in that order.
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