<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What Happened: Three new stocks will be added to replace existing stocks in the DJIA index.” data-reactid=”20″>What Happened: Three new stocks will be added to replace existing stocks in the DJIA index.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Cloud computing solutions provider Salesforce.com Inc. (NYSE: CRM) will replace Exxon Mobil Corp. (NYSE: XOM), biotech company Amgen Inc. (NASDAQ: AMGN) will replace Pfizer Inc. (NYSE: PFE), and Honeywell International Inc. (NYSE: HON) will replace Raytheon Technologies Corp. (NYSE: RTX).” data-reactid=”21″>Cloud computing solutions provider Salesforce.com Inc. (NYSE: CRM) will replace Exxon Mobil Corp. (NYSE: XOM), biotech company Amgen Inc. (NASDAQ: AMGN) will replace Pfizer Inc. (NYSE: PFE), and Honeywell International Inc. (NYSE: HON) will replace Raytheon Technologies Corp. (NYSE: RTX).
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The decision to replace three stocks in the index came after Apple Inc (NASDAQ: AAPL) declared a 1:4 stock split, which would also come into effect on Aug. 31.” data-reactid=”22″>The decision to replace three stocks in the index came after Apple Inc (NASDAQ: AAPL) declared a 1:4 stock split, which would also come into effect on Aug. 31.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Why It Matters: The iPhone maker is one of the constituents of the DJIA index and the company’s stock split decision could bring down the index weightage on the Global Industry Classification Standard (GICS) IT sector. With the new additions, S&P Dow Jones hopes to offset this reduction and remove company overlap in the index.” data-reactid=”27″>Why It Matters: The iPhone maker is one of the constituents of the DJIA index and the company’s stock split decision could bring down the index weightage on the Global Industry Classification Standard (GICS) IT sector. With the new additions, S&P Dow Jones hopes to offset this reduction and remove company overlap in the index.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What’s Next: To ensure consistency, new divisors will be used to rebalance the index, specifics of which will be available in the S&P Dow Jones Indices FTP (EDX) site on Aug. 28, according to the statement.” data-reactid=”28″>What’s Next: To ensure consistency, new divisors will be used to rebalance the index, specifics of which will be available in the S&P Dow Jones Indices FTP (EDX) site on Aug. 28, according to the statement.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Price Action: At the time of the market close on Monday, the DJIA index was up 1.35% at $28,308.46.” data-reactid=”29″>Price Action: At the time of the market close on Monday, the DJIA index was up 1.35% at $28,308.46.
Among the three new entrants, Salesforce.com shares traded 3% higher at $214.8 in the after-hours session Monday. Amgen shares traded 4% higher at $245, and Honeywell shares were up 3.8% at $165.5.
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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”37″>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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