Sign Of The Times: Google Added To S&P 500

Google will be part of the Standard & Poor’s 500 as of March 31, replacing an oil producer being acquired by another company. The announcement came as a boost to Google’s flagging stock. AP did the math: prior to Thursday, Google had lost almost 20 percent of its market value — and about $20 billion in shareholder wealth. Even so, the stock started the day at and the company still started the day with shares at $342.35; well into extended trading shares are up nine percent to $372.71 for a market cap of roughly $103 billion.

MKTW: “The decision instantly puts Google — less than two years after going public — on the shopping list of hundreds of mutual fund managers who run portfolios that track the components of the S&P 500.”