Amazon to join Dow Jones Industrial Average, replace Walgreens

ISTANBUL: Amazon.com Inc. will replace Walgreens Boots Alliance Inc. in the Dow Jones Industrial Average (DJIA), S and P Dow Jones Indices announced Tuesday. "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 and P Dow Jones Indices said in a statement. In addition, Uber Technologies Inc. will replace JetBlue Airways Corp. in the Dow Jones Transportation Average. "This change will help the index gain exposure to the ride-sharing industry," the statement said, noting that 'the index change 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 Dow Jones Transportation Average is a price-weighted index, as very low-priced stocks have an immaterial impact on the index, the statement added. Source: Philippines News Agency