GE To End More Than 100-Year Run On Dow; Walgreens Added
LOS ANGELES (AP) — General Electric will be dropped from the Dow Jones industrial average next week, ending the industrial conglomerate's more than 100-year run in the 30-company blue chip index.
S&P Dow Jones Indices said Tuesday that GE will be removed from index before the open of trading next Tuesday. Its slot will go to drugstore chain Walgreens Boots Alliance.
Boston-based GE was an original member of the Dow Jones industrials dating back to 1896. It had been a continuous member of the Dow since 1907.
GE has been struggling in recent years, shrinking dramatically since it became entangled in the financial crisis a decade ago.
The company is under investigation related to a $15 billion hit it took to cover miscalculations at an insurance unit.
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