S&P Dow Jones Indices said late Monday that it will change some components of the Dow Jones Industrial Average starting next Monday.
Say goodbye to Exxon Mobil, Pfizer and Raytheon Technologies, and say hello to Salesforce.com, Amgen and Honeywell International.
Exxon joined the Dow in 1928, Pfizer in 2004 and Raytheon earlier this year via its merger with United Technologies.
“ExxonMobil out of the DJIA. Incredible. I wonder which will be the first wind or solar company to join it,” said podcaster and energy analyst Chris Nedler on Twitter.
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Why the Changes?
According to S&P Dow Jones Indices, Apple’s decision to split its stock 4:1 prompted the shifts, as the tech giant’s move reduced the index’s weight in the Global Industry Classification Standard Information Technology sector.