{"id":722642,"date":"2026-06-24T05:45:11","date_gmt":"2026-06-24T05:45:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/722642\/"},"modified":"2026-06-24T05:45:11","modified_gmt":"2026-06-24T05:45:11","slug":"alphabet-to-replace-verizon-in-dow-jones-reshuffle-shares-rise","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/722642\/","title":{"rendered":"Alphabet to replace Verizon in Dow Jones reshuffle, shares rise"},"content":{"rendered":"\n

What happened: Alphabet (GOOGL<\/a>, GOOG<\/a>) shares were up less than 1% in after-hours trading on Tuesday.<\/p>\n

What’s behind the move: The tech giant will join the Dow Jones Industrial Average (DJI) on June 29, replacing Verizon Communications (VZ<\/a>) in a move aimed at better reflecting growing areas of the US economy.<\/p>\n

Alphabet’s inclusion will “broaden and strengthen the DJIA’s exposure\u201d to areas such as artificial intelligence, cloud computing, healthcare technology, and digital advertising said the S&P Dow Jones Indices statement.<\/a><\/p>\n

The release noted that Alphabet’s “larger market capitalization and share price, together with the breadth of its businesses,” make it a stronger representative of the Communication Services (XLC<\/a>) sector.<\/p>\n

Because the Dow is weighted by stock price, Verizon’s lower-priced shares contribute relatively little to the index’s performance. Verizon shares are up roughly 14% year-to-date.<\/p>\n

What else you need to know: Honeywell International (HON<\/a>) will remain in the index after completing the spin-off of its aerospace business on June 29. Following the transaction, the parent company will be renamed Honeywell Technologies, while Honeywell Aerospace will not be added to the DJIA.<\/p>\n

Alphabet has been spending heavily on AI, recently issuing nearly $85 billion in shares to fund AI spending.<\/p>\n

Shares have come under pressure in recent sessions as the Federal Reserve adopted a more hawkish tone on inflation and investors locked in gains amid concerns over elevated valuations.<\/p>\n

Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre<\/a>.<\/p>\n

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