Altria Group Dropped From Dow Jones..

February 19, 2008 - Bank of America Corp. and Chevron Corp. will replace tobacco company Altria Group and manufacturer Honeywell International in the Dow Jones industrial average of 30 actively traded blue chip stocks, giving the stock market’s best-known indicator bigger slices of the banking and energy sectors. Altria, better known by its former name, Phillip Morris Cos. The maker of Marlboro cigarettes last year spun off its Kraft Foods division after earlier selling most of its Miller Brewing unit, and it will soon corral its international tobacco operations into a separate company. The blue chip index’s parent, Dow Jones & Co., said the slimmed down Altria will be too small and narrowly focused to warrant inclusion in the Dow. Phillip Morris became part of the index in 1985. While Altria’s makeover prompted the decision to alter the index for the first time since 2004, Dow Jones also reviewed the other 29 components. The changes, which take place today (Tuesday, February 19, 2008), are the first since April 2004. The 30 stocks are chosen by the editors of the Wall Street Journal (which is published by Dow Jones & Company), a practice that dates back to the beginning of the century. ( Dow Jones index to replace Altria and Honeywell by Tim Paradis - ASSOCIATED PRESS, The Buffalo News BUSINESS Today, 2/19/2008) Some related news briefs regarding the Altria split: More on Philip Morris International of the Future.., With less restrains PMI looks to the future.., With the spin off of Philip Morris International the parent company of Philip Morris, Altria, will become a company focused on various tobacco markets in the United States.., Altria Announces Spin-off of Philip Morris International Inc.., Tomorrow Altria Board Expected to Announce Decision to Split Philip Morris International (PMI) From Philip Morris USA.. and . Click on image to enlarge..