S&P Dow Jones Indices announced late Tuesday that Walgreens Boots Alliance (WBA) replaces General Electric (GE) in the Dow Jones Industrial Average, effective prior to the open of trading on June 26.
General Electric (GE) out
General Electric is removed from the Dow Jones Industrial Average, 122 years after first being handpicked by Charles Dow himself. GE already fell out of the Dividend Aristocrat list in 2009 due to a dividend cut. Furthermore, the GE stock has fallen nearly 80 percent from highs in 2000 and the stock slipped 1.5 percent in after-hours trading following the announcement.
Also, the low price of GE shares means the company has a weight in the index of less than 1.5%, which is one of the reasons to remove it from the index.
Walgreens Boots Alliance (WBA) in