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.
Nat Rudarakanchana covers commodities and companies for the International Business Times. He is especially interested in precious metals, the food and drink industry, and...