Visa, Goldman Sachs and Nike will replace Bank of America, Alcoa and Hewlett-Packard the Dow Jones Industrial Average next week in a shakeup of the blue-chip stock index.
The changes to the 30-stock index will take effect Sept. 20, S&P Dow Jones Indices said Sept 10. The reason for the changes was the low stock price of the three companies slated for removal and the Index Committee's desire to diversify the sector and industry group representation of the index," S&P Dow Jones said.
Bank of America, which has been part of the index for five years, closed trading Monday at $14.48, up 25% on the year. Goldman Sachs has also gained 25% this year, and closed Monday at $159.49. Visa closed at $178.55 a share, up 18% on the year.