Skip to comments.Biz break: Google and Cisco Systems may be listed on Dow Jones, report says
Posted on 03/16/2009 1:24:25 PM PDT by Ernest_at_the_Beach
Going blue chip: There's nothing wrong with being listed on the Nasdaq stock exchange, of course. But Silicon Valley stalwarts Google and Cisco Systems may be headed for bigger things.
They are being viewed as top contenders to enter the Dow Jones industrial average, now that the two constituents are trading below $2, making their status as blue chips tenuous, Reuters said.
In recent weeks, six stocks on the Dow have tumbled below $10, and on Friday, Citigroup, once the world's most valuable bank, sunk to 97 cents. Analysts say Citigroup and automaker General Motors are most likely to be replaced.
"I don't have much interaction with Exxon Mobil, but I'm on Google 47 times a day," Barry Ritholtz, chief market strategist of Fusion IQ in New York, told Reuters. Exxon is one of the 30 stocks listed on the Dow. "Indirectly that means I'm interfacing with the plumbing of Cisco," he told the news service.
(Excerpt) Read more at mercurynews.com ...
But some analysts said the move could prompt heightened competition between Cisco and other tech behemoths, notably Hewlett-Packard and IBM Corp.
So that's a good reason to add Google to the DJ?
Wonder which company has a greater market impact if it goes offline or shuts-down for a little while.
From Wiki....list of current members
3M · Alcoa · American Express · AT&T · Bank of America · Boeing · Caterpillar · Chevron · Citigroup · The Coca-Cola Company · DuPont · ExxonMobil · General Electric · General Motors · Hewlett-Packard · The Home Depot · Intel · IBM · Johnson & Johnson · JPMorgan Chase · Kraft Foods · McDonald’s · Merck & Co. · Microsoft · Pfizer · Procter & Gamble · United Technologies Corporation · Verizon Communications · Wal-Mart · The Walt Disney Company
To me, it would make the index too tech heavy
Cisco’s entering the blade server market....
I don’t .
Are you wanting to buy the paid version?
And it would also make the index an accurate reflection of the current state of American industry. ;)
Would you spell that out for me and break it down...