By Jerry Kronenberg | Moomoo News
$Amazon (AMZN.US)$ will replace $Walgreens Boots Alliance (WBA.US)$ in the $Dow Jones Industrial Average (.DJI.US)$ prior to the opening of trading next Monday, officials at S&P Dow Jones Indices announced Tuesday after the bell.
“Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA,” S&P Dow Jones said in a statement announcing the move.
The company said the index change stemmed from a recent decision by Walmart to do a 3-for-1 stock split, which will reduce WMT’s weighting in the Dow-30 index.
S&P Dow Jones Indices also announced that $Uber Technologies (UBER.US)$ will take the place of $JetBlue Airways (JBLU.US)$ in the $Dow Jones Transportation Average (.DJT.US)$ prior to next Monday’s opening bell.
“This change will help the index gain exposure to the ride-sharing industry,” index officials said.
They said the UBER/JBLU swap “was prompted by JetBlue’s low weight in the index of less than one-half of one percentage point caused by its low share price.”
The affected stocks saw generally small after-hours price moves following the news.
Walgreens moved the most significantly, shedding 3.1% to $21.62 shortly before 6 p.m. ET.
JetBlue likewise fell 0.2% to $7 on the news just prior to 6 p.m. ET, while Amazon added 1.2% to $169.10 and Uber gained 1.1% to $77.45.
