New Beginnings Reviews: General Electric sinks after being booted from the Dow (GE, WBA)

Thomson Reuters

General Electric will be replaced by Wallgreens Boots Alliance in the Dow Jones Industrial Average. Shares of embattled GE fell about 1.6% overnight following the announcement, while Walgreens rose 3%. The change will make the index more representative of the economy, S&P Dow Jones Indices said. Follow GE's stock price here — and follow Walgreens' here.

Shares of General Electric, an original Dow Jones Industrial Average member, sank about 1.7% ahead of Wednesday’s opening bell after the announcement it will be replaced by Walgreens Boots Alliance in the blue chip stock index.

Walgreens, which merged with the Swiss-British Alliance Boots pharmacy in 2014, gained about 3% on the announcement.See the rest of the story at Business Insider

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SEE ALSO: General Electric loses place in Dow, expected to be replaced by Walgreens