Kraft to be dropped from the Dow Jones exchange

Filed under: AM Roundup |

Kraft will be replaced by United Healthcare on the Dow Jones Industrial Average, reports the Chicago Tribune.

The move comes after Kraft decided to spin off its North American grocery business. Stocks dropped 1.3 percent in pre-market trading on the news.

Kraft will rename its grocery division Mondelez International, and Dow officials don’t think it will have enough revenue or market clout to remain on the exchange.

Read more at the Chicago Tribune.