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Article: SEARS DROPPED FROM DOW JONES INDUSTRIAL AVERAGE.(Statistical Data Included)
- Article from:
- Daily News Record
- Article date:
- October 27, 1999
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 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 to 27 down 1 7/8 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 Board, ...