Former Components
The components of the DJIA have changed 48 times in its 116 year history. As of 2011, General Electric has had the longest continuous presence on the index, with its latest addition being in 1907. A summary of the more recent changes to the index includes the following:
- On February 19, 2008, Chevron and Bank of America replaced Altria Group and Honeywell. Chevron was previously a Dow component from July 18, 1930, to November 1, 1999. During Chevron's absence, its split-adjusted price per share went from forty-four dollars to eighty-five, while the price of petroleum rose from twenty-four dollars to a hundred.
- On September 22, 2008, Kraft Foods replaced the American International Group (AIG) in the index.
- On June 8, 2009, General Motors and Citigroup were replaced by The Travelers Companies and Cisco Systems, which became the third company traded on the NASDAQ to be part of the Dow.
- On September 24, 2012, UnitedHealth Group replaced Kraft Foods following Kraft's spinning off its North American grocery business.
Read more about this topic: Dow Jones Industrial Average
Famous quotes containing the word components:
“Hence, a generative grammar must be a system of rules that can iterate to generate an indefinitely large number of structures. This system of rules can be analyzed into the three major components of a generative grammar: the syntactic, phonological, and semantic components.”
—Noam Chomsky (b. 1928)