NEW YORK -- UnitedHealth ( UNH)is to replace Kraft Foods ( KFT)in the Dow Jones Industrial Average, effective with the opening of trading on Sept. 24.
The change in the blue-chip index is being made because of Kraft's plan to spin off its North American grocery business next month. Kraft Foods will be renamed Mondelez International. The Dow Jones Averages Index Committee said it "believes that Mondelez's reduced market capitalization and projected lower percentage of revenue generated from the U.S. makes the company less representative of the U.S. large-cap market space." -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.