I Correctly Predicted Alphabet Would Join the Dow Jones Industrial Average in June. Here's What the Index Shake-Up Means for Investors.
Honeywell's spin-off was the catalyst for replacing Verizon with Alphabet in the Dow Jones Industrial Average.
I Correctly Predicted Alphabet Would Join the Dow Jones Industrial Average in June. Here's What the Index Shake-Up Means for Investors.
Overview
Honeywell International (NASDAQ: HON) is spinning off Honeywell Aerospace on June 29 as the final phase of breaking up its conglomerate structure to accelerate growth. In May, I predicted that Honeywell's spin-off would trigger a shake-up of the Dow Jones Industrial Average (DJINDICES: ^DJI) that would open the perfect window for Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) to join the index.
The prediction came true on June 23, when S&P Dow Jones Indices announced that while the streamlined Honeywell Technologies would remain in the Dow, Alphabet would replace Verizon Communications (NYSE: VZ) before the start of trading on June 29.
Details
Here's what the news means for the Dow and for Alphabet investors.
Source
Originally published at www.fool.com.
