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  General Electric loses place in elite Dow Jones Industrial Average
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ContributorIndyGeorgia 
Last EditedIndyGeorgia  Jun 19, 2018 08:54pm
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AuthorNoel Randewich and Alwyn Scott
News DateWednesday, June 20, 2018 01:30:00 AM UTC0:0
Description(Reuters) - General Electric Co has lost its spot in the Dow Jones Industrial Average after over a century in the blue chip stock index, a new blow to a company that once towered over the American business landscape but is now struggling to retain its standing as an industrial powerhouse.

S&P Dow Jones Indices said on Tuesday that GE (GE.N), an original member of the Dow when it was formed by Charles Dow in 1896 and a continuous member since 1907, will be replaced in the 30-component stock average by drug store chain Walgreens Boots Alliance Inc (WBA.O) prior to the start of trading on June 26. GE’s stock slipped 1.5 percent in after-hours trading following the announcement while Walgreens jumped 3 percent.

A decade and a half ago GE was the world’s most valuable public company. But it foundered in several key industrial markets in recent years, and a diversion into financial services steered it into the eye of the global financial crisis in 2008.
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