Amazon to join Dow Jones Industrial Average, replace Walgreens

Amazon.com Inc. will replace Walgreens Boots Alliance Inc. in the Dow Jones Industrial Average (DJIA), S&P Dow Jones Indices announced Tuesday. (File Photo: Yender Gonzalez/Unsplash)

ISTANBUL – Amazon.com Inc. will replace Walgreens Boots Alliance Inc. in the Dow Jones Industrial Average (DJIA), S&P Dow Jones Indices announced Tuesday.

“Reflecting the evolving nature of the American economy, this change will increase consumer retail exposure as well as other business areas in the DJIA,” S&P Dow Jones Indices said in a statement.

In addition, Uber Technologies Inc. will replace JetBlue Airways Corp. in the Dow Jones Transportation Average.

“This change will help the index gain exposure to the ride-sharing industry,” the statement said, noting that “the index change was prompted by JetBlue’s low weight in the index of less than one-half of one percentage point caused by its low share price.”

The Dow Jones Transportation Average is a price-weighted index, as very low-priced stocks have an immaterial impact on the index, the statement added.