New Kids Join Old Boys

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From USA TODAY:

Google’s stock will be added to the Standard & Poor’s 500 index, a long-anticipated rite of passage that lifted the online search engine leader’s recently sagging shares.
Google will replace Burlington Resources in the closely watched barometer March 31.
The inclusion into the S&P 500 provides Google’s stock with an immediate catalyst because so many large mutual funds are based on the index’s composition.
Joining the S&P 500 also is a symbol of prestige that stamps its members as a blue-chip company.
Google’s entrance into the elite club had been considered a foregone conclusion by many because its market value had already surpassed many of the nation’s best-known companies like General Motors and Hewlett Packard — both components of the even more exclusive Dow Jones industrial average.
Despite its stock’s recent downturn, Google’s market value has remained above $100 billion.

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About David Burn

Native Nebraskan seeking the perfect pale ale in the Pacific Northwest. Disc golfer. Fan of Kurt Vonnegut, community radio and wolves in the wild. Copywriter and brand strategist at Bonehook. Co-founder and editor of AdPulp.