- How to make new stuff from your piles of obsolete tech
- Why your computer sucks
- 10 recession-proof IT skills
- Juniper execs share network vision
- 9-year-old plots his fifth Microsoft certification
Cisco has been added to the Dow Jones Industrial Average, replacing GM. Travelers has also been added to the stock index, replacing Citigroup.
Think you know everything about Cisco? Take this quiz.
Cisco had been expected for months to replace a Dow component. The move means that Cisco, the tech bellwether with a market cap of $112 billion, is a stable and key indicator of the nation's and globe’s economy.
Quoting a statement from Wall Street Journal Managing Editor Robert Thomson, the AP said Cisco was added to the Dow because its products are "vital to an economy and culture still adapting to the Information Age - just as automobiles were essential to America in the 20th Century." It may also signal the increasing influence of tech stocks in the Dow.
GM, which had been one of the index's 30 blue chip stocks for 83 years, was removed after filing for Chapter 11 today. Citigroup was removed because it is undergoing a significant restructuring following the credit crisis, which precipitated the current economic recession.
The U.S. government will have a substantial stake in Citigroup after the restructuring.
The changes take effect June 8.
Rss FeedRss Feed
The Leader in Network Knowledge
Partner Content
Simplify Your Branch Infrastructure
Learn how to simplify your branch infrastructure while dramatically increasing app performance with Citrix Branch Repeater.
Download the Free Info Kit
Next-Gen Load Balancing
Free Guide: "Next Gen Load Balancing: 8 Things You Need to Handle Today's Network Traffic" shows you the functionality needed in your next load balancer.
Download the Free Guide
Accelerate Your Web Apps by up to 5x
Free Guide: "The Secret to Getting Maximum Speed from your Web Applications."' Learn how you can deliver Web apps up to 5x faster.
Download the Free Guide
Comments (16)
Government control = OFF the DowBy Anonymous on June 1, 2009, 7:16 pmFrom the news, it seems obvious that where the government is involved Growth and prosperity are not expected to follow! You would think that someone in Washington...
Reply | Read entire comment
Government control != off the DowBy Anon on June 1, 2009, 8:16 pmThere is no sinister government conspiracy going on here. The Dow 30 Industrials is for publicly traded companies. With GM deciding to declare bankruptcy, their...
Reply | Read entire comment
The DOW is NOT an indicator of our economyBy Anonymous on June 1, 2009, 8:21 pmWhen will this country wise up and realize what happens on Wall Street has no bearing on what the health of our economy is. Take a look at the gas pump folks. The...
Reply | Read entire comment
AN indicator of the economy...By Anon on June 1, 2009, 10:34 pm If you think that the DOW is NOT an indicator of our economy talk to the 100 million people that have retirement funds now worth 35 percent of yesterdays value...
Reply | Read entire comment
Not following your point; doBy Anon on June 1, 2009, 11:06 pmNot following your point; do you have one? Are you seriously comparing the price of one company's share price to another's without taking into account the number...
Reply | Read entire comment
Just a distraction to hide the fact that JNPR is riding high at By Anonymous on June 2, 2009, 1:39 amJust a distraction to hide the fact that JNPR is riding high at $25 while CSCO is at a low $18 on NASDAQ.
Reply | Read entire comment
View all comments