Tuesday, September 10, 2013

Bank of America among three companies being removed from the blue-chips on September 20

NEW YORK CITY — The Charlotte-based Bank of America is among three companies who will be removed from the Dow Jones Industrial Average (DJI).

The other two that are being removed are: Hewlett-Packard, which also owns Compaq computers, and Alcoa.

The trio of companies replacing them will be as follows: Visa, Nike and Goldman-Sachs.

The changes will be effective the minute after all of the stocks close for the week on Friday, September 20, S&P Dow Jones Indices said in a statement.

The average, first established in 1896, includes 30 stocks, but very little money is indexed to its performance, unlike the broader S&P 500 or other indexes. In addition, because it is weighted by price, companies that are smaller in value with higher prices have more influence on the average.

Read more in Huffington Post Business…

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