Goldman Sachs, Nike and Visa Join Dow Jones Industrial Average, As Bank of America, HP, Alcoa Leave

  @natrudy on September 10 2013 9:49 AM

Goldman Sachs Group Inc. (NYSE:GS), Visa Inc. (NYSE:V) and Nike Inc. (NYSE:NKE) will be added to the Dow Jones Industrial Average index of top public companies after the markets close on Friday, displacing longtime DJIA'ers Bank of America Corp. (NYSE:BAC), Hewlett-Packard Company (NYSE:HPQ) and Alcoa Inc. (NYSE:AA), said S&P Dow Jones Indices in a statement on Tuesday.  

The low stock prices of Bank of America, HP and Alcoa partly contributed to the decision, said the statement. Additionally, the group that puts together the index wants to make the 30-firm group more diverse.

The move is the highest-profile overhaul of the index since about April 2004, when another "three for three" exchange took place, reports Fox Business.

 

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