Published 6/1/2009
by Eric Savitz
at BARRONS.com: Tech Trader Daily
Cisco (CSCO) will replace General Motors (GM) in the Dow Jones Industrial Average, Dow Jones announced this morning. The index will also add Travelers (TRV) , replacing Citigroup (C) . The changes are effective June 8.
In a statement, Wall Street Journal managing editor Robert Thomson said that Cisco was added to the index “because its communications and computer-networking 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.”
GMm which this morning filed Chapter 11, had been in the index since August 1925.
Cisco this morning is up 89 cents, or 4.8%, to $19.39.
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