ExxonMobil Stock

ExxonMobil is to be replaced on the Dow Jones Industrial Average effective Monday (Aug. 31) in a shakeup prompted by Apple Inc.’s decision to split its stock.

The price-weighted, 30-stock, blue chip index said Salesforce.com would replace the Irving, TX-based supermajor. ExxonMobil has traded on the Dow since 1928. As recently as 2011, ExxonMobil was the world’s largest company. During 2Q2020, however, a global oil supply glut and scant demand resulting from Covid-19 pushed ExxonMobil to a historic loss, with nearly every corner of its operations slammed.

The revamp reflects gains by technology companies. For example, San Francisco-based Salesforce.com develops enterprise cloud computing solutions. Amgen Inc., replacing Pfizer Inc., is a biotech drug manufacturer....