Feeds

HP dumped from Dow Jones Industrial Average

Booted from bellwether that still welcomes Microsoft, Intel and Cisco

Choosing a cloud hosting partner with confidence

Hewlett-Packard may still pull more than a hundred billion dollars a year through the door, but that's no longer enough for the company to win a place on the Dow Jones Industrial Average, (DJIA) the venerable and prestigious basket of 30 stocks held to represent a vital sample of American listed companies.

HP's removal from the list, according to the Dow's canned statement, came because of its low share price and “the Index Committee’s desire to diversify the sector and industry group representation of the Index.”

Removal from the index won't harm HP materially, because financial types don't place great store in the DJIA. The index's wider prestige, however, is such that being excluded is the kind of milestone the company could do without. Throw in the fact that the Dow's decision to boot three companies (Bank of America and Alcoa also got the chop) constitutes its biggest turnover in a decade and HP's exclusion looks even more momentous.

The there's the fact that Microsoft, Intel and Cisco remain all members, and that payments firm Visa has been named as HP's direct replacement. All constitutes further kicks in the relevance to HP.

The news isn't all bad: the likes of Google and Oracle aren't DJIA members, although one reason for their exclusion is that their share prices are so high it would make it hard to balance the index.

At the time of writing HP's investor relations unit was silent on its exclusion, which takes place on September 23rd. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.