NEW YORK, Aug. 24, 2020 /PRNewswire/ -- S&P Dow Jones
Indices will make the following changes to the Dow Jones Industrial
Average (DJIA) effective prior to the opening of trading on
Monday, August 31:
Salesforce.com (NYSE:CRM) will replace Exxon Mobil Corp.
(NYSE:XOM), Amgen Inc. (NASD:AMGN) will replace Pfizer Inc.
(NYSE:PFE), and Honeywell International Inc. (NYSE:HON) will
replace Raytheon Technologies Corp. (NYSE:RTX).
The index changes were prompted by DJIA constituent Apple Inc.'s
(NASD:AAPL) decision to split its stock 4:1, which will
reduce the index's weight in the Global Industry
Classification Standard (GICS) Information Technology sector. The
announced changes help offset that reduction. They also help
diversify the index by removing overlap between companies of
similar scope and adding new types of businesses that better
reflect the American economy.
Salesforce.com, headquartered in San
Francisco, CA, develops enterprise cloud computing solutions
with a focus on customer relationship management.
Amgen, headquartered in Thousand Oaks,
CA, is a biotechnology company that discovers, develops,
manufactures, and delivers human therapeutics.
Honeywell International, headquartered in Charlotte, NC, delivers industry specific
solutions that include aerospace products and services; control
technologies for buildings and industry; and performance
materials.
The changes won't disrupt the level of the index. The divisor
used to calculate the index from the components' prices on their
respective home exchanges will be changed prior to the opening on
August 31, 2020. This procedure
prevents any distortion in the index's reflection of the portion of
the U.S. stock market it is designed to measure. The new divisors
can be found in the end-of-day index level files (*.SDL) via the
S&P Dow Jones Indices FTP (EDX) site beginning on Friday, August 28, 2020.
Following is a summary of the changes that will take place prior
to the open of trading on the effective date:
|
Effective
Date
|
Index
Name
|
Action
|
Company
Name
|
Ticker
|
GICS
Sector
|
|
August 31,
2020
|
DJIA
|
Addition
|
Salesforce.com
|
CRM
|
Information
Technology
|
|
|
Addition
|
Amgen
|
AMGN
|
Health
Care
|
|
|
Addition
|
Honeywell
International
|
HON
|
Industrials
|
|
|
Deletion
|
Exxon
Mobil
|
XOM
|
Energy
|
|
|
Deletion
|
Pfizer
|
PFE
|
Health
Care
|
|
|
Deletion
|
Raytheon
Technologies
|
RTX
|
Industrials
|
For more information about S&P Dow Jones Indices, please
visit www.spdji.com
ABOUT S&P DOW JONES
INDICES
S&P Dow Jones Indices is the largest global resource for
essential index-based concepts, data and research, and home to
iconic financial market indicators, such as the S&P 500® and
the Dow Jones Industrial Average®. More assets are invested in
products based on our indices than products based on indices from
any other provider in the world. Since Charles Dow invented the first index in 1884,
S&P DJI has been innovating and developing indices across the
spectrum of asset classes helping to define the way investors
measure and trade the markets.
S&P Dow Jones Indices is a division of S&P Global (NYSE:
SPGI), which provides essential intelligence for individuals,
companies, and governments to make decisions with confidence. For
more information, visit www.spdji.com.
FOR MORE INFORMATION:
S&P Dow Jones Indices
index_services@spglobal.com
Media Inquiries
spdji.comms@spglobal.com
View original
content:http://www.prnewswire.com/news-releases/salesforcecom-amgen-and-honeywell-international-set-to-join-dow-jones-industrial-average-301117395.html
SOURCE S&P Dow Jones Indices