Standard & Poor’s adds Google to 500 index

And so the news of Google’s inclusion to the S&P comes as the index dips a few points. Regardless, the news of Google being added is definitely going to help their position a great deal in the long term.

Google Inc.’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.

Standard & Poor’s announced the forthcoming change after the stock market closed Thursday. Google will replace Burlington Resources Inc. in the closely watched barometer March 31. Burlington Resources, a major oil producer based in Houston, is being acquired by ConocoPhillips Inc. in a deal worth about $35.6 billion.

Google’s shares gained $1.67 to close at $341.89 on the Nasdaq Stock Market, then soared $30.82, or 9 percent, in extended trading. Source: MSNBC