On Tuesday, the S&P Dow Jones Indices announced that three stocks on the Dow Jones Industrial Average will be dropped next week.
After the bell on September 20, Bank of America Corp (BAC
) will be replaced by Goldman Sachs Group Inc (GS
), Alcoa Inc (AA) will be swapped out for Nike Inc (NKE), and Visa Inc (V) will take the place of Hewlett-Packard Company (HPQ).
The S&P Dow Jones Indices noted that these changes “were prompted by the low stock price of the three companies slated for removal and the Index Committee’s desire to diversify the sector and industry group representation of the index.”
S&P Dow Jones reported that these changes will not affect the current level of the index.
Bank of America shares were up 13 cents, or 0.90%, during Tuesday morning trading. The stock is up 25% YTD.
Hewlett-Packard shares were down 20 cents, or 0.92%, during Tuesday morning trading. The stock is up 56% YTD.
Alcoa shares were mostly flat during Tuesday morning trading. The stock is down 8% YTD.
Goldman Sachs shares were up $4.98, or 3.12%, during Tuesday morning trading. The stock is up 29% YTD.
Nike shares were up $1.28, or 1.96%, during Tuesday morning trading. The stock is up 29% YTD.
Visa shares were up $3.80, or 2.04%, during Tuesday morning trading. The stock is up 21% YTD.
The Bottom Line
Shares Bank of America Corp (BAC) have a 0.27% yield based on Tuesday morning’s price of $14.58.
Shares of Hewlett-Packard Company (HPQ) have a 2.63% yield based on Tuesday morning’s price of $22.09.
Shares of Alcoa Inc (AA) have a 1.49% yield based on Tuesday morning’s price of $8.06.
Shares of Goldman Sachs Group Inc (GS) have a 1.22% yield based on Tuesday morning’s price of $164.44.
Shares of Nike Inc (NKE) have a 1.26% yield based on Tuesday morning’s price of $66.85.
Shares of Visa Inc (V
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