General Electric GE kicked off 2013 with a large asset sale announcement, agreeing in February to sell its remaining stake in NBCUniversal’s joint venture with Comcast for $18.1 billion. Proceeds from that sale were used to accelerate both share buybacks and the conglomerate’s restructuring plans. In the year ahead, GE is looking to invest. In April, the company made an offer to to buy French firm Alstom’s power and grid businesses for nearly $17 billion — a deal that would, if approved, immediately boost GE’s earnings.
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By Alex Veiga / AP
June 19, 2018

(LOS ANGELES) — General Electric will be dropped from the Dow Jones industrial average next week, ending the industrial conglomerate’s more than 100-year run in the 30-company blue chip index.

S&P Dow Jones Indices said Tuesday that GE will be removed from index before the open of trading next Tuesday. Its slot will go to drugstore chain Walgreens Boots Alliance.

Boston-based GE was an original member of the Dow Jones industrials dating back to 1896. It had been a continuous member of the Dow since 1907.

GE has been struggling in recent years, shrinking dramatically since it became entangled in the financial crisis a decade ago.

The company is under investigation related to a $15 billion hit it took to cover miscalculations at an insurance unit.

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