Feeds

HP dumped from Dow Jones Industrial Average

Booted from bellwether that still welcomes Microsoft, Intel and Cisco

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
Adrian Mole author Sue Townsend dies at 68
RIP Blighty's best-selling author of the 1980s
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.