AA, HPQ and BAC Expelled by Dow Jones Industrial Average (INDEXJX:DJI) and Replaced by V, NKE and GS
On Monday three companies were added and three companies were replaced by Dow Jones Industrial Average (INDEXDJX:DJI). Hewlett-Packard Company (NYSE:HPQ) was replaced by Visa Inc (NYSE:V), Bank of America Corp (NYSE:BAC) was replaced by Goldman Sachs Group Inc (NYSE:GS) and Alcoa Inc (NYSE:AA) was replaced by Nike Inc (NYSE:NKE).
These replacements were done because according to Dow Jones Indices the company hopes to increase the industry-group representations and broaden its sector; these three companies did not meet the required standard and therefore were expelled. This replacement was effective from start of Monday’s trading.
According to a Bank of America spokesperson, it was confirmed by a Merrill Lynch analyst that company’s stock is rated to be a buy. Share of Dow Jones in the premarket trading were up by a figure of 1.6%. It was also confirmed by the spokesperson that shares of Rockwood Holdings, Inc (NYSE:ROC) were downgraded to neutral whereas shares of Southwest Airlines Co (NYSE:LUV) were upgraded to neutral by Merrill Lynch analysts; shares of these two companies did not change in the premarket.
It was announced by Apple Inc (NASDAQ:AAPL) on Monday that nine million units of iPhone 5c and 5s were sold in the phone’s first weekend. Tim Cook, Apple’s CEO mentioned in a statement that iPhone 5s’ initial supply was completely sold in three days, which started from Friday and became a new record for Apple’s sales in first weekend. Cook also declared iPone 5s to be their best launch to date. It was also stated by the company that over 200 devices are being powered by iOS 7.
Apple believes that the fourth quarter revenue of this year will reach $37 billion with gross margin going up to 37%. Shares of Apple went up by 6% in the premarket.
Current session shares;
Shares of Visa Inc (NYSE:V) went down by -1.25% ($196.34), share of Hewlett-Packard Company (NYSE:HPQ) went down by 0.85% ($21.04), share of Goldman Sachs Group Inc (NYSE:GS) went down by -2.79% ($165.02), share of Bank of America Corp (NYSE:BAC) went down by -2.23% ($14.13), share of Nike Inc (NYSE:NKE) went down by -1.48% ($68.35) and share of Alcoa Inc (NYSE:AA) went up by 0.24% ($8.31).