NU Online News Service, April 2, 2004, 4:06 p.m. EST – The editors of The Wall Street Journal have added the stock of American International Group Inc., New York, to the Dow Jones Industrial Average.[@@]
The Wall Street Journal, which is published by Dow Jones & Company, New York, says the move will take effect April 8.
The addition of AIG and 2 other large companies, Pfizer Inc., New York, and Verizon Communications Inc., New York, will help the widely followed Dow Jones Industrial Average reflect the growth of the financial and health care sectors, Dow says.
The companies being replaced are AT&T Corp., Bedminster, N.J.; Eastman Kodak Company, Rochester, N.Y.; and International Paper Company, Stamford, Conn.
“We are pleased with the recognition,” says AIG spokesman Andrew Silber.