By Kelly Cloonan

Google's parent company Alphabet will replace Verizon in the Dow Jones Industrial Average.

The change will take effect before the market opens on June 29, said S&P Dow Jones Indices, which manages the index.

S&P Dow Jones Indices, a division of S&P Global, said the addition of Alphabet will broaden and strengthen the DJIA's exposure to dynamic areas of the U.S. economy, like advertising, cloud infrastructure, artificial intelligence, hardware, autonomous mobility, healthcare technology and media distribution.

"Its larger market capitalization and share price, together with the breadth of its businesses, make it a more representative Communication Services constituent in the DJIA," S&P said.

Verizon represents only one-half of one percentage point of the DJIA due to its lower share price, given the index is price weighted, S&P said.

Additionally, Honeywell International, a constituent on the index, is spinning off its aerospace business in a deal that's expected to be completed June 29. Post spin-off, the Honeywell parent will remain in the DJIA under the new name Honeywell Technologies, and Honeywell Aerospace will not be included, S&P said.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 23, 2026 17:54 ET (21:54 GMT)

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