The Market in Action
- The Dow Jones Industrial Average made the decision this month to remove General Electric Co. from its index, replacing it with Illinois-based pharmacy chain Walgreens Boots Alliance Inc. The decision is largely attributed to the need for greater representation of the U.S. economy’s consumer and healthcare sectors within the index.
- The American Civil Liberties Union delivered a petition and a letter from 17 investors to Amazon this month imploring the retail giant to forego future business opportunities that would deploy its image recognition technology for government use. The Orlando police department – one of two pilot cities leveraging the technology –announced it would not be immediately renewing its contract with Amazon shortly thereafter.
- Share values for drugstore mainstays Walgreens, CVS Health, and Rite Aid all dipped this month after Amazon announced the purchase of PillPack, a company specializing in the packaging and distribution of medication for individuals with chronic conditions and multiple prescriptions.
- Harley-Davidson Inc. faced more growth challenges this month with share values sinking after the iconic motorcycle manufacturer announced the European Union’s 25 percent tariff levy would increase the cost of each bike by roughly$2,200. The company said it would still avoid raising any suggested retail or wholesale prices.
- Comcast Corporation announced this month that they are no longer throttling users who consume substantial amounts of their network’s bandwidth. The announcement came shortly after the FCC abandoned legal protections against content discrimination tactics enacted by internet service providers.