UNH UnitedHealth Group Inc. Set to Join the Dow Jones Industrial Average
BY PR Newswire— 9:25 AM ET 09/14/2012 http://stockcharts.com/h-sc/ui?s=UNH
NEW YORK, Sept. 14, 2012 /PRNewswire/ -- UnitedHealth Group Inc. (UNH) will replace Kraft Foods Inc. (KFT) in the Dow Jones Industrial Average (DJIA) after the close of trading on Friday, September 21, and the change will be effective with the opening of trading on Monday, September 24. The index change was prompted by Kraft Foods' (KFT) plan to spin-off its North American grocery business, to be named Kraft Foods Group, Inc. on Oct. 1, 2012. Following the spin-off, Kraft Foods Inc. (KFT) will be renamed Mondelez International, Inc. The Dow Jones Averages Index Committee believes that Mondelez's reduced market capitalization and projected lower percentage of revenue generated from the U.S. makes the company less representative of the U.S. Large Cap market space.
UnitedHealth Group (UNH), headquartered in Minnetonka, MN, is a diversified health care services company that provides health care coverage and benefits services to tens of millions of individuals across the U.S., and information and technology-enabled health services. The Index Committee believes the addition of UnitedHealth Group (UNH) brings added health care diversification to the Dow Jones Industrial Average, and reflects the growing importance of health care spending in the U.S. economy.
The changes won't cause any disruption in the level of the Index. The divisor used to calculate the DJIA from its components' prices on their respective home exchanges will be changed prior to the opening on September 24. This procedure prevents any distortion in the DJIA's reflection of the U.S. stock market.
For more information, see the web site of Dow Jones Indexes at http://www.djaverages.com
. The Dow Jones Transportation Average, Dow Jones Utility Average and Dow Jones Composite Average also are members of the Dow Jones Averages family.
Additions to and deletions from the Dow Jones Industrial Average do not in any way reflect an opinion on the investment merits of the companies involved.
Following is a summary of the change:
DOW JONES INDUSTRIAL AVERAGE – Sept. 21, 2012
GICS ECONOMIC SECTOR
United Health Group
Managed Health Care
Packaged Foods & Meats