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Article: IN DOW JONES RESHUFFLING, SEARS IS OUT, HOME DEPOT IN.(Dow Jones Industrial Average)(Brief Article)(Statistical Data Included)
- Article from:
- WWD
- Article date:
- October 27, 1999
- Author:
CopyrightCOPYRIGHT 1999 Fairchild Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- There was a changing of the guard Tuesday as venerable retailer Sears, Roebuck & Co. was dropped from the Dow Jones Industrial Average and replaced by fast-growing home-improvement chain Home Depot Inc.
The shuffle was part of a reworking by Dow Jones & Co., which maintains the average, that replaced four stocks with ones it considers more representative of today's U.S. economy.
Shares of Sears, which has been a component of the DJIA since 1924, fell 1 7/8 to 27 on the New York Stock Exchange Tuesday as index funds that duplicate the performance of the 30-stock index unloaded their Sears holdings. Home Depot shares, also traded on the Big ...