Apple (AAPL) didn't make the cut, but Unitedhealth Group (UNH) did. The cut here is for the Dow Jones Industrial Average, the 116-year-old index that will see the insurance company join its 30-stock ranks and Kraft (KFT), which is splitting in two, taken out.
For shareholders of these companies, it's basically a crap shoot as to what happens next, if the past few changes are any indication of what direction the two stocks will head. Going back to 2004 and including Friday's announcement, the Dow has brought in nine new members, and of course removed the same number. There might be a short-term effect, but if you're at all tempted to gauge whether over the longer term being added or subtracted matters one way or the other, don't expect any guarantees.
The last few years, it should be said, have been chaotic for some of the Dow stocks -- in particular, names like AIG (AIG), GM (GM) and Citigroup (C), whose government aid following the financial crisis de-normalized their ownershipRead More »from Dow Swaps Out Kraft for Unitedhealth