June 29 (Reuters) - Alphabet shares climbed on Monday as the Google parent made its debut in the blue-chip Dow Jones Industrial Average, replacing Verizon Communications, and immediately ranking among its most influential members.
• Its shares rose 3.7% to $350.24, offering one of the biggest boosts to the 30-member Dow.
• The company replaced Verizon on the index, S&P Dow Jones Indices said in an announcement on June 23.
• As a higher-priced stock, Alphabet carries more weight in the price-weighted index than Verizon did, which was one of its least influential members, and broadens the Dow's exposure to digital advertising, cloud computing and AI.
• The addition lifts to five the number of 'Magnificent Seven' members in the Dow, alongside Nvidia, Amazon, Apple and Microsoft.
• Its shares rose 3.7% to $350.24, offering one of the biggest boosts to the 30-member Dow.
• The company replaced Verizon on the index, S&P Dow Jones Indices said in an announcement on June 23.
• As a higher-priced stock, Alphabet carries more weight in the price-weighted index than Verizon did, which was one of its least influential members, and broadens the Dow's exposure to digital advertising, cloud computing and AI.
• The addition lifts to five the number of 'Magnificent Seven' members in the Dow, alongside Nvidia, Amazon, Apple and Microsoft.
30 days ago
