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Goldman Sachs, Visa & Nike Set to Join the Dow Jones Industrial Average

NEW YORK, Sept. 10, 2013 /PRNewswire/ -- The Goldman Sachs Group Inc. (NYSE:GS) will replace Bank of America Corp. (NYSE:BAC), Visa Inc. (NYSE:V) will replace Hewlett-Packard Co. (NYSE:HPQ), and Nike Inc. (NYSE:NKE) will replace Alcoa Inc. (NYSE:AA) in the Dow Jones Industrial Average (DJIA) after the close of trading on Friday, September 20. The changes will be effective with the opening of trading on Monday, September 23. The index changes were prompted by the low stock price of the three companies slated for removal and the Index Committee's desire to diversify the sector and industry group representation of the Index.

The Goldman Sachs Group, headquartered in New York, NY, provides investment banking, securities, and investment management services, as well as financial services to corporations, financial institutions, governments, and high-net-worth individuals worldwide.

Visa, headquartered in San Francisco, CA, is a payments technology company that engages in the operation of retail electronic payments network worldwide.

Nike, headquartered in Beaverton, OR, engages in the design, development, marketing, and sale of athletic footwear, apparel, equipment, and accessories.

The changes won't cause any disruption in the level of the Index. The divisor used to calculate the DJIA from its components' prices on their respective home exchanges will be changed prior to the opening on September 23. This procedure prevents any distortion in the DJIA's reflection of the U.S. stock market.

For more information, please visit http://www.djaverages.com. The Dow Jones Transportation Average, Dow Jones Utility Average and Dow Jones Composite Average also are members of the Dow Jones Averages family.

Additions to and deletions from the Dow Jones Industrial Average do not in any way reflect an opinion on the investment merits of the companies involved.

Following is a summary of the changes:

 

DOW JONES INDUSTRIAL AVERAGE  – Sept. 23, 2013


COMPANY

GICS ECONOMIC SECTOR

GICS SUB-INDUSTRY

ADDED

The Goldman Sachs
Group

Financials

Investment Banking &
Brokerage


Visa

Information Technology

Data Processing &
Outsourced Services


Nike

Consumer Discretionary

Footwear

DELETED

Bank of America

Financials

Other Diversified Financial
Services


Hewlett-Packard

Information Technology

Computer Hardware


Alcoa

Materials

Aluminum

 

S&P Dow Jones Indices will host a teleconference call at 9:15 am New York time to discuss the changes.

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Replay Information
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To access the Net enhanced replay of this call, please click here:
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The replay will be available for 30 days, ending OCT-10-2013

About S&P Dow Jones Indices
S&P Dow Jones Indices LLC, a part of McGraw Hill Financial, is the world's largest, global resource for index-based concepts, data and research. Home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average™, S&P Dow Jones Indices LLC has over 115 years of experience constructing innovative and transparent solutions that fulfill the needs of investors. More assets are invested in products based upon our indices than any other provider in the world. With over 830,000 indices covering a wide range of asset classes across the globe, S&P Dow Jones Indices LLC defines the way investors measure and trade the markets. To learn more about our company, please visit www.spdji.com.  

Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC, a part of McGraw Hill Financial. Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").  These trademarks have been licensed to S&P Dow Jones Indices LLC. It is not possible to invest directly in an index. S&P Dow Jones Indices LLC, Dow Jones, S&P and their respective affiliates (collectively "S&P Dow Jones Indices") do not sponsor, endorse, sell, or promote any investment fund or other investment vehicle that is offered by third parties and that seeks to provide an investment return based on the performance of any index. This document does not constitute an offer of services in jurisdictions where S&P Dow Jones Indices does not have the necessary licenses. S&P Dow Jones Indices receives compensation in connection with licensing its indices to third parties.

For more information:

Dave Guarino
Communications
S&P Dow Jones Indices
[email protected]
(212) 438-1471

David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
[email protected] 
(212) 438-3907

SOURCE S&P Dow Jones Indices

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