Companies
CRM

Salesforce, Amgen, Honeywell to join Dow Jones Industrial

Credit: REUTERS/BRENDAN MCDERMID

Shares of Salesforce.com, Amgen and Honeywell International each surged over 3% in extended trade on Monday after it was announced they would join the Dow Jones Industrial Average as of Aug. 31.

By Noel Randewich

Aug 24 (Reuters) - Shares of Salesforce.com CRM.N, Amgen AMGN.O and Honeywell International HON.N each surged over 3% in extended trade on Monday after it was announced they would join the Dow Jones Industrial Average as of Aug. 31.

Exxon Mobil XOM.N, Pfizer PFE.N and Raytheon Technologies RTX.N, which S&P Dow Jones Indices said would leave the 30-component Dow as part of the changes, each fell more than 1%.

S&P Dow Jones Indices, which manages the Dow, said the shakeup was a result of Apple's AAPL.O four-for-one stock split, which will take effect the same day.

The drop in Apple's stock price resulting from its split will reduce its weight within the Dow, along with the overall weight of the technology sector in the Dow. The index is weighted based on the share prices of its components, not on each company's overall market value. Adding cloud computing heavyweight Salesforce.com reduces the decline of tech's weighting in the Dow.

(Reporting by Noel Randewich; Editing by Sandra Maler and Leslie Adler)

((noel.randewich@tr.com; (415) 677 2542; Reuters Messaging: Twitter: @randewich))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

CRM AMGN HON XOM PFE RTX AAPL

Other Topics

US Markets

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More