Current:Home > FinanceAmazon to be added to the Dow Jones Industrial Average, replacing Walgreens Boots Alliance -Capitatum
Amazon to be added to the Dow Jones Industrial Average, replacing Walgreens Boots Alliance
View
Date:2025-04-19 04:49:56
NEW YORK (AP) — Amazon.com Inc. is being added to the Dow Jones Industrial Average, joining Apple, Walt Disney, Walmart and other companies that make up the 30-stock average.
The e-commerce giant will replace drugstore operator Walgreens Boots Alliance in the Dow before the open of trading on Monday, S&P Dow Jones Indices said Tuesday.
The shift was prompted by Walmart’s decision to do a 3-to-1 stock split, which will reduce its stock’s weighting in the index. The Dow is a price-weighted index, so stocks that fetch higher prices are given more weight.
Seattle-based Amazon will join the Dow on the same day that Walmart executes its stock split.
“Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA,” S&P Dow Jones Indices said.
Amazon’s entry into the Dow, Walgreens’ exit and Walmart’s stock split will cause a ripple effect on the weighting of the Dow stocks. Once the shift is completed, Amazon’s weight in the Dow will rank 17th out of the 30 stocks in the index. Walmart’s weighting will drop to 26 from 17. UnitedHealth Group will remain the most heavily weighted stock in the index.
Also before the start of trading on Monday, ride-sharing service Uber Technologies will be added to the Dow Jones Transportation Average, S&P Dow Jones Indices said.
The change help give the index exposure to the ride-sharing industry.
San Francisco-based Uber will take the spot now held by JetBlue Airways, whose low share price caused its weight in the index to drop to less than one-half of one percentage point.
S&P Dow Jones Indices made the announcements after the closing bell. Amazon shares rose 1.4% in after-hours trading, while Uber’s stock picked up 1.1%.
veryGood! (6)
Related
- A White House order claims to end 'censorship.' What does that mean?
- Trump breaks GOP losing streak in nation’s largest majority-Arab city with a pivotal final week
- COINIXIAI Introduce
- Vikings' Camryn Bynum celebrates game-winning interception with Raygun dance
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Unexpected pairing: New documentary tells a heartwarming story between Vietnam enemies
- Jordan Chiles Reveals She Still Has Bronze Medal in Emotional Update After 2024 Olympics Controversy
- Georgia's humbling loss to Mississippi leads college football winners and losers for Week 11
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Deion Sanders addresses trash thrown at team during Colorado's big win at Texas Tech
Ranking
- Senate begins final push to expand Social Security benefits for millions of people
- Bo the police K-9, who located child taken at knifepoint, wins Hero Dog Awards 2024
- Fire crews on both US coasts battle wildfires, 1 dead; Veterans Day ceremony postponed
- Barbora Krejcikova calls out 'unprofessional' remarks about her appearance
- The Daily Money: Spending more on holiday travel?
- A list of mass killings in the United States this year
- 25 monkeys caught but more still missing after escape from research facility in SC
- Dwayne Johnson Admits to Peeing in Bottles on Set After Behavior Controversy
Recommendation
Nearly half of US teens are online ‘constantly,’ Pew report finds
NASCAR Hall of Fame driver Bobby Allison dies at 86
Sister Wives’ Madison Brush Details Why She Went “No Contact” With Dad Kody Brown
'I was in total shock': Woman wins $1 million after forgetting lotto ticket in her purse
Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
Jerry Jones lashes out at question about sun's glare at AT&T Stadium after Cowboys' loss
Mattel says it ‘deeply’ regrets misprint on ‘Wicked’ dolls packaging that links to porn site
Chiefs block last-second field goal to save unbeaten record, beat Broncos