General Electric loses place in Dow, expected to be replaced by Walgreens

Get the Full StoryREUTERS Jamie Fine

General Electric has lost its spot in the Dow Jones Industrial Average after over a century in the blue chip stock index.

GE's place will be replaced by drug store chain Walgreens prior to the start of trading on June 26.

GE’s stock slipped 1.5 in after-hours trading following the announcement while Walgreens jumped 3 .

General Electric has lost its spot in the Dow Jones Industrial Average after over a century in the blue chip stock index, a new blow to a company that once towered over the American business landscape but is now struggling to retain its standing as an industrial powerhouse.

S&P Dow Jones Indices said on Tuesday that GE, an original member of the Dow when it was formed by Charles Dow in 1896 and a continuous member since 1907, will be replaced in the 30-component stock average by drug store chain Walgreens prior to the start of trading on June 26. GE’s stock slipped 1.5 percent in after-hours trading following the announcement while Walgreens jumped 3 percent.See the rest of the story at Business InsiderNOW WATCH: How to survive a snake biteSee Also:Microsoft could be aiming at Amazon with its own push for checkout-free retailZTE shares tank in Asian markets after it agrees to pay 1.4 billion settlement to the USRussia's Putin plans to meet Saudi Prince Mohammed bin Salman to talk an oil dealSEE ALSO: The Dow erases its 2018 gains as Trump moves closer to an all-out trade war with China

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