HP Dropped from the Dow Jones Index

After 16 years, the Dow Jones Industrial Average dropped Hewlett-Packard, an index used to judge the state of the United States economy.

Bank of America and Alcoa were also removed from the index. The three will be replaced by Nike, Visa and Goldman Sachs

This reshuffling, which takes place at the close of trading on Sept. 20, is the index’s biggest since 2004. Stocks in the 30-company index are chosen by a committee that includes editors of The Wall Street Journal.

The eviction of HP from the group comes after the company’s stock price fell about 50% over the past five years. However, HP’s stock price is up slightly over the past year Read more…

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