Alcoa Inc. (AA), Bank of America Corp. (BAC) and Hewlett-Packard Co. (HPQ) will be dropped from the Dow Jones Industrial Average next week, in the biggest shake-up of the 30-stock index in almost a decade.
Alcoa, a Dow component for 54 years, will be replaced by athletic gear maker Nike Inc. (NKE).
Payments company Visa Inc. (V) will replace Hewlett-Packard, which joined the index in 1997.
Securities firm Goldman Sachs Group Inc. (GS) will replace Bank of America, which has spent five years in the blue-chip benchmark index.
The changes, which will take effect with the close of trading on Sept. 20, reflect the companies’ sliding fortunes and their declining share prices.
HPQ is the biggest Dow gainer this year and BAC was the biggest gainer last year.