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General Electric being removed from Dow Jones industrial average after 100+ years

General Electric being removed from Dow Jones industrial average after 100+ years

June 19, 2018 06:24 PM

LOS ANGELES (AP) - General Electric will be dropped from the Dow Jones industrial average next week, ending the industrial conglomerate's more than 100-year run in the 30-company blue chip index.
    
S&P Dow Jones Indices said Tuesday that GE will be removed from index before the open of trading next Tuesday. Its slot will go to drugstore chain Walgreens Boots Alliance.
    
Boston-based GE was an original member of the Dow Jones industrials dating back to 1896. It had been a continuous member of the Dow since 1907.
    
GE has been struggling in recent years, shrinking dramatically since it became entangled in the financial crisis a decade ago.
    
The company is under investigation related to a $15 billion hit it took to cover miscalculations at an insurance unit.


MORE INFORMATION: CNBC article on General Electric's removal from the Dow Jones industrials

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Credits

ALEX VEIGA / AP

Copyright 2018 The Associated Press. All rights reserved.

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