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" Alphabet to Join Dow Jones Industrial Average, Replacing Verizon"
Key Points
About This Summary
Alphabet will replace Verizon in the Dow Jones Industrial Average on June 29.
Alphabet, the parent of Google, has one of the largest market capitalizations in the world.
Honeywell Aerospace will join the S&P 500, replacing Conagra Brands.
Alphabet will replace Verizon Communications
VZ
+3.02%
in the Dow Jones Industrial Average before the opening of trading on June 29.
S&P Dow Jones Indices, which oversees the venerable 30-stock index, said in a press release that Verizon’s low stock price meant it had an “immaterial impact” on the price-weighted index.
Alphabet, the parent of Google, has one of the largest market capitalizations in the world and a stock price of around $350, against about $47 for Verizon. Nike and Verizon have the two lowest prices in the Dow Industrials.
There also will be a change in the S&P 500 as Honeywell Aerospace, a spinoff from Honeywell International
HON
-2.52%
, will join the index, replacing Conagra Brands
CAG
+4.51%
. That change also will come on June 29.
