Last Updated: Feb. 20, 2024 at 5:52 p.m. ET
First Published: Feb. 20, 2024 at 5:32 p.m. ET
Amazon.com Inc. is set to join the Dow Jones Industrial Average in a week, a move meant to reflect âthe evolving nature of the American economy,â S&P Dow Jones Indices said late Tuesday.
Amazon AMZN replaces Walgreens Boots Alliance Inc. WBA in the Dow Jones DJIA. The change was prompted by Walmart Inc.âs WMT 3-to-1 stock split.
âReflecting…
Amazon.com Inc. is set to join the Dow Jones Industrial Average in a week, a move meant to reflect âthe evolving nature of the American economy,â S&P Dow Jones Indices said late Tuesday.
Amazon
AMZN
replaces Walgreens Boots Alliance Inc.
WBA
in the Dow Jones
DJIA.
The change was prompted by Walmart Inc.âs
WMT
3-to-1 stock split.
âReflecting the evolving nature of the American economy, this
change will increase consumer retail exposure as well as other business areas in the DJIA,â S&P Dow Jones said.
Donât miss: The Dow is due for a change. These sectors may be affected.
Walmart announced its stock split late last month. The retail giant will remain in the DJIA, the index provider said.
Amazonâs stock rose 1.3% in after-hours trading following the news, while shares of Walgreens dropped 3%.
S&P Dow Jones also said that Uber Technologies Inc.
UBER
will replace JetBlue Airways Corp.
JBLU
in the Dow Jones Transportation Average
DJT.
Both index changes are scheduled to take effect before the bell on Feb. 26.
The change âwill help the index gain exposure to the ride-sharing industry,â S&P Dow Jones said. The index change was prompted by JetBlueâs âlow weight in the index of less than one-half of one percentage point caused by its low share price.â The Dow Jones Transportation Average is a price-weighted index.
JetBlue has appealed a court ruling nixing its merger with Spirit Airlines Inc.
SAVE
as it vies for a slice of the ultra-low-cost airline industry and domestic leisure travel, and itâs also appealing a decision blocking its regional alliance with American Airlines Group Inc
AAL
.
See also: Carl Icahn lands two JetBlue board seats days after disclosing stake in airline
Jessica Roberts is a seasoned business writer who deciphers the intricacies of the corporate world. With a focus on finance and entrepreneurship, she provides readers with valuable insights into market trends, startup innovations, and economic developments.