PAM57
News
Post Featured Image

GEE! GE

The Dow Jones Industrial Average will dump General Electric (GE) from the index on June 26th ending GE’s 110 year tenure as a component of the index. Teddy Roosevelt was president back in November 1907 when the industrial giant was added to the DJIA. For generations General Electric was a symbol of American industrial prowess. It manufactured products from light bulbs, to locomotives, to giant steam turbines.

Under the legendary and controversial Jack Welch, GE stock soared to all time highs in 2000. But the past 18 years have been a series of disappointments, ill-timed acquisitions, and underperformance. GE is selling off assets to pare down its massive debt and some analysts are calling for it spin off its more valuable units. The stock was the worst performer in the DJIA last year, down over 52%.

Walgreens Boots Alliance (WBA), the largest retail pharmacy in the US and Europe, will take GE’s spot in the index.

Important notice: you are now leaving Patton Albertson & Miller

By clicking continue, you will be taken to a site that is not affiliated with Patton Albertson & Miller and may offer a different privacy policy and level of security. Patton Albertson & Miller is not responsible for and does not endorse, guarantee, or monitor content, availability, viewpoints, products, or services that are offered or expressed on other websites. You can click the "Return to Patton Albertson & Miller" button now to return to the previus page, or you can close the new window after you leave.

Continue Return to Patton Albertson & Miller