AIG Added To Dow Jones Industrial Average
By Michael Ha
NU Online News Service, April 1, 4:29 p.m. EST ?
The New York-based Dow Jones & Company Inc. announced today that the move, which will go into effect April 8, will help its Dow Jones Industrial Average reflect more growth in the financial and health care sectors. AIG?combined with Pfizer Inc. and Verizon Communications?is replacing three companies on the Dow index: AT&T Corp., Eastman Kodak Co. and International Paper Co.
Changes to the Dow Jones Industrial Average are made by the editorial department of The Wall Street Journal, which is owned by Dow Jones & Company Inc. More specifically, Paul Steiger, the managing editor of The Wall Street Journal, and John Prestbo, the markets editor for The Wall Street Journal and editor of Dow Jones indexes, oversee the changes, said a spokesperson for Dow Jones & Company.
"We are pleased with the recognition," said Andrew Silber, an AIG representative.
Dow Jones Industrial Average?often referred to as the Dow or DJIA?is the best known U.S. index of stocks. It consists of 30 stocks that trade on the New York Stock Exchange and is widely considered as the most-significant barometer of how shares of the largest U.S. companies are performing.
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