In yet another example of the collapse of our nation’s core businesses, Bank of America is being kicked out of the Dow Jones Industrial Average along with Alcoa and Hewlett Packard. Maybe BofA should not have treated its clients and the 2nd Amendment so badly after all as outlined previously. But then again, Goldman Sachs is replacing them: just another example of justice in America.
Dow Jones To Kick Out Losers From Index: Alcoa, Hewlett, BofA Out; Replaced With Goldman, Nike And Visa
In what has become an unspoken tradition for the Dow Jones, which maintains its upward bias by kicking out underperformers and replacing them with the investor darlings du jour, we just learned that as part of its next three-for-three rebalancing, the first since 2004, the DJIA will kick out such recent losers as Alcoa, Hewlett Packard and Bank of America, and will be replaced with Goldman, Nike and Visa:
- ALCOA, BANK OF AMERICA, HEWLETT-PACKARD TO LEAVE DJIA
- GOLDMAN SACHS, VISA, NIKE TO JOIN DJ INDUSTRIAL AVERAGE
- CHANGES WERE PROMPTED BY THE LOW STOCK PRICE OF THE THREE COMPANIES SLATED FOR REMOVAL