Skip to main content

UnitedHealth to replace Kraft in Dow 30

The Dow Jones industrial average is sticking a fork in Kraft Foods. Minnetonka-based insurer UnitedHealth Group will replace the lunch meat maker in the 30-stock index, the most widely known barometer of the U.S. stock market.
  • Author:
  • Updated:
    Original:

No bologna, as USA Today put it: Minnetonka-based insurer UnitedHealth Group is moving up in the world, and nudging out mac and cheese in the process.

The Dow Jones industrial average, the 30-stock index that may be the most widely known gauge of the U.S. stock market, announced Friday that it was dropping Kraft Foods to make room for UnitedHealth, effective Sept. 24, the Associated Press reports.

The AP said that S&P Dow Jones Indices, which manages the average, decided to nix Kraft because it is poised to become a much smaller company after spinning off its North American grocery business.

And UnitedHealth was added because of health care’s growing importance in the U.S. economy, David Blitzer, chairman of the index committee, told the AP.

Next Up

J.W. Peck (left) and Eric Galler.

2 Minnesotans inducted into White Castle's Hall of Fame

White Castle — it's what a man in Minneapolis and another in Woodbury, crave.

Screen Shot 2022-05-21 at 5.46.37 PM

Video shows officers ended pursuit before fatal crash in Anoka

The crash occurred when the driver fled police during an attempted traffic stop in Coon Rapids.

Eli Hart

6-year-old Eli Hart identified as boy found dead in car trunk

The kindergartner's father was trying to get full custody of his son.

IMG_3509

Boy found dead in trunk of car in Mound was kindergartner

"It is horrifying and difficult to process a tragedy of this magnitude, especially in our close-knit community," the superintendent wrote.

Minneapolis police

Man found yelling for help after being shot in Minneapolis

The shooting occurred on the 800 block of Elwood Avenue North at around 9:15 p.m.

Screen Shot 2022-05-21 at 9.56.21 AM

Minneapolis North principal says she was fired, district says otherwise

“MPS requires schools to follow protocols in times like that and I did not,” Friestleben said.

Kris Richard Severin

Inmate who escaped Minnesota prison is captured

The inmate escaped Wednesday morning.

Brave New Comedy Workshop in downtown Minneapolis.

Brave New Workshop cancels shows due to COVID-19 cases

The shows were scheduled for Friday and Saturday at the Brave New Workshop Comedy Theatre.

Austin Retterath

Body of missing U of M student found in Mississippi River

Austin Retterath was last seen alive in the morning hours of May 8.

"Love" mural seen in St. Paul.

Summer mural events to bring together community, shine light on MN artists

The 2022 Chroma Zone Mural & Art Festival will take place this weekend in St. Paul's Creative Enterprise Zone, with ensuing events happening this summer.

14869-Manitou-Road-NE-Prior-Lake-MN-55372-6110268-image37

Gallery: Remodeled lakeside home in Prior Lake on market for $2.8M

It offers privacy at the end of a dead-end road fronting onto Lower Prior Lake.

Related

UnitedHealth reaches rare milestone

The Minnetonka-based health insurer brought in more than $100 billion last year. The Star Tribune reports UnitedHealth is among just 22 publicly traded companies and the first in Minnesota to reach that milestone. Read more ...

UnitedHealth posts big third-quarter net income

Minnetonka-based UnitedHealth Group's third-quarter net income jumped 23 percent, beating expectations, as preparations for retiring Baby Boomers started to pay off for the nation's largest health insurer, the Associated Press reports. UnitedHealth also raised its 2012 earnings forecast.

UnitedHealth awarded $20 billion U.S. Department of Defense contract

The Minnetonka-based health insurer will provide military health insurance coverage for 21 western states. UnitedHealth lost a separate contract for the southern region in June.

UnitedHealth may lose 500,000 of its Medicare subscribers

Bloomberg reports UnitedHealth's plans are expected to increase 14 percent next year -- making it too expensive for many of their low-income customers. Plans sold at Wal-Mart and CVS will be half the cost.

UnitedHealth 2Q net income rises 5.5%

Rising enrollments for Medicare and Medicaid plans helped boost Minnetonka-based UnitedHealth Group in the second-quarter. The biggest U.S. health insurer says net income rose 5.5 percent to trump Wall Street expectations.

Minn.-based UnitedHealth's new Texas facility likely to employ hundreds

Connextions, a subsidiary of Minnesota-based UnitedHealth, announced Thursday that it will be opening a new facility similar to a call center in Irving, Texas. The opening of the facility will likely create hundreds of new jobs in the area.

Former UnitedHealth CEO buys Minn. pro soccer team

Former UnitedHealth CEO William McGuire is the new owner of the Minnesota Stars, a minor league soccer franchise from the North American Soccer League. The wealthy business leader headed Minnetonka-based UnitedHealth for 15 years.

UnitedHealth board OKs dividend hike, buyback plan

The largest U.S. health insurer is increasing its quarterly dividend by more than 30 percent and authorizing a new plan to buy back 110 million shares. Minnetonka-based UnitedHealth Group says the actions reflect solid growth across its enterprise.