UnitedHealth to replace Kraft in Dow 30by Martin Moylan, Minnesota Public Radio
ST. PAUL, Minn. — Minnesota will soon have be home to a second company in the Dow Jones industrial average, one of the world's most closely followed stock market barometers.
Maplewood-based 3M has long been included. Effective September 24, UnitedHealth Group will join the index of 30 of the nation's leading companies.
"UnitedHealth Care is part of a significant growing industry," said David Blitzer, chairman of the committee that picked the Minnetonka-based health insurer for the index. "Health care insurance is important in the economy. It's important on the financial market. And most of all, it's important to a huge number of American across the country."
The purpose of the index is to give investors an idea of how the entire stock market is performing. The Dow currently includes drug makers Pfizer and Merck but no companies focused on health insurance. UnitedHealth will replace Kraft. That food company is splitting itself into two businesses.