Alphabet to replace Verizon in the Dow Jones Industrial Average
By
Alex Harring, Jennifer Elias
Summary
S&P Global announced that Alphabet (Google's parent company) will replace Verizon in the Dow Jones Industrial Average, marking the continued expansion of megacap technology companies in the 30-stock blue-chip index. Alphabet's Class A shares (GOOGL) will join the index ahead of Monday's trading, and the stock rose about 1% in after-hours trading following the announcement.
Source
bskyAlphabet to replace Verizon in the Dow Jones Industrial Averagecnbc.comKey quotes
· 3 pulledAlphabet will replace Verizon in the Dow Jones Industrial Average, S&P Global said Tuesday, further expanding megacap technology's presence in the blue-chip average.
S&P Global said the Google parent's A shares — which trade under the ticker GOOGL — would take the spot in the 30-stock index ahead of the start of Monday's trading.
Shares of the online search giant rose about 1% after the bell on Tuesday following the announcement.
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