Salesforce to Join Dow Jones Industrial Average

Cloud-based software provider salesforce.com (NYSE: CRM) has joined the ranks of what many consider to be the most influential and exclusive stock index of them all: the Dow Jones Industrial Average (DJIA, or simply "the Dow"). On Monday, S&P Dow Jones Indices -- the company that manages the Dow -- announced after market close that Salesforce will become one of its 30 components prior to the start of trading on Monday, Aug. 31.

With its graduation, the veteran cloud computing company displaces oil and gas giant ExxonMobil. This is one of three changes to the DJIA. The other two are biotech Amgen (NASDAQ: AMGN) supplanting pharmaceutical peer Pfizer and engineering conglomerate Honeywell International (NYSE: HON) replacing Raytheon Technologies.

Image source: Getty Images.

Continue reading

Source Fool.com