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After 100 Years, Last Original Dow Member Booted From Index

General Electric to be replaced by Walgreens
By Newser Editors and Wire Services
Posted Jun 19, 2018 6:34 PM CDT
In this Jan. 16, 2018, file photo, the General Electric logo is displayed at the top of their Global Operations Center in the Banks development of downtown Cincinnati.   (AP Photo/John Minchillo, File)

(Newser) – General Electric will be dropped from the Dow Jones industrial average next week, ending the industrial conglomerate's more than 100-year run in the 30-company blue chip index, the AP reports. S&P Dow Jones Indices said Tuesday that GE will be removed from index before the open of trading next Tuesday. Its slot will go to drugstore chain Walgreens Boots Alliance. Boston-based GE was an original member of the Dow Jones industrials dating back to 1896, and per Fortune, was the last remaining original member. It had been a continuous member of the Dow since 1907. GE has been struggling in recent years, shrinking dramatically since it became entangled in the financial crisis a decade ago. The company is under investigation related to a $15 billion hit it took to cover miscalculations at an insurance unit. (Read more Dow Jones stories.)

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