By Kimberly Chin

 

Shares of Salesforce.com Inc., Amgen Inc. and Honeywell International Inc. rose more than 3% after hours after the three stocks were added to the Dow Jones Industrial Average by S&P Dow Jones Indices.

The stocks are set to replace Exxon Mobil Corp., Pfizer Inc. and Raytheon Technologies Corp. in the blue-chip index, respectively. Shares of Exxon, Pfizer and Raytheon fell by more than 1.5% in after-hours trading on Monday.

The changes were in response to Apple Inc.'s four-to-one stock split announced last month, S&P said, adding the split would've reduced the information-technology sector's influence on the price-weighed Dow. The decision to make changes to the index will help offset that reduction, S&P said.

Component stocks of the Dow are selected by the index committee, a group that includes editors of The Wall Street Journal, which is published by Dow Jones & Co., a part of News Corp.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

August 24, 2020 18:38 ET (22:38 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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