S&P Dow Jones Indices announced new changes to its Dow Jones Industrial Average (DJIA) late Monday evening. It will add San Francisco business software company Salesforce, Los Angeles biotech firm Amgen, and Charlotte, N.C. Industrial stalwart Honeywell International to the index before trading opens on Monday, August 31.
Those companies replace oil giant ExxonMobil, pharmaceutical pioneer Pfizer, and aerospace company Raytheon Technologies, respectively.
S&P says the changes are prompted by, and intended to offset, Apple’s decision to split its stock 4:1, which will reduce the index’s weight in the information technology category. The changes won’t disrupt the level of the index, the company says.