Google To Join Standard & Poor's 500 Index

The big news overnight was that Google is going to be joining the Standard & Poor's 500 Index. Google will be listed after trading has closed on March 31st. They will be taking the spot of Burlington Resources Inc., an oil company being acquired by ConocoPhillips. GOOG will be the highest priced stock amongst its other members in the S&P 500. "S&P 500 fund managers will have to buy $11.1 billion of Google's stock because of its inclusion in the index," according to the Bloomberg article. John Battelle also has his thoughts here.