Alphabet Rises 1% on Dow Debut, Replacing Verizon in 30-Stock Index
Updated
Updated · CNBC · Jun 29
Alphabet Rises 1% on Dow Debut, Replacing Verizon in 30-Stock Index
3 articles · Updated · CNBC · Jun 29
Summary
Alphabet gained about 1% in premarket trading as the Google parent prepared to join the Dow Jones Industrial Average for the first time on Monday.
The move replaces Verizon in the 30-member blue-chip index, a change that can trigger portfolio rebalancing by funds tied to the Dow.
Verizon slipped 0.5% after projecting $700 million to $800 million in second-quarter losses tied to classifying businesses in a BT Group joint venture as held for sale.
The index reshuffle came in a busy premarket session marked by sharp deal-driven moves, including Comcast up 20% on its NBCUniversal and Sky spin-off and Iridium up more than 20% after Rocket Lab agreed to acquire it.
As Comcast splits up, why are space companies like Rocket Lab and SpaceX betting their futures on building vertically integrated empires?
AI is fueling a megadeal frenzy in tech infrastructure. Which industries are next to be reshaped by this wave of AI-driven acquisitions?
With satellite-to-phone technology booming, will giants like SpaceX finally eliminate cellular dead zones for everyone, or just create a new premium service?