Daily Stock Market News

Old Dominion Freight Line Set to Join Dow Jones Transportation Average


NEW YORK, Dec. 7, 2021 /PRNewswire/ — Old Dominion Freight Line Inc. (NASD:ODFL) will replace Kansas City Southern (NYSE:KSU) in the Dow Jones Transportation Average (DJTA) effective prior to the opening of trading on Tuesday, December 14.

The index change was prompted by the anticipated closing of the voting trust portion of a merger in which KSU will be acquired by Canadian Pacific Railway Limited (NYSE and TSX:CP). The merged company will be incorporated and headquartered in Canada and therefore will not be eligible for the Dow Jones Transportation Average which includes companies incorporated in the U.S.

The change won’t disrupt the level of the index. The divisor used to calculate the index from the components’ prices on their respective home exchanges will be changed prior to the opening on December 14, 2021. This procedure prevents any distortion in the index’s reflection of the portion of the U.S. stock market it is designed to measure. The new divisors can be found in the end-of-day index level files (*.SDL) via the S&P Dow Jones Indices FTP (EDX) site beginning on Monday, December 13, 2021.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date

Index Name

Action

Company Name

Ticker

GICS Sub-Industry

Dec. 14, 2021

DJTA

Addition

Old Dominion Freight Line

ODFL

Trucking

Deletion

Kansas City Southern

KSU

Railroads

For more information about S&P Dow Jones Indices, please visit www.spdji.com

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spdji.com.

FOR MORE INFORMATION:

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View original content:https://www.prnewswire.com/news-releases/old-dominion-freight-line-set-to-join-dow-jones-transportation-average-301439711.html

SOURCE S&P Dow Jones Indices



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