Back-of-the-envelope calculation: GOOG has a $100B market cap, so should be weighted around 1% in the S&P500. Typical daily trading range of GOOG is 3%. So this may be good for an extra .39 point worth of daily volatility in SPX.
I believe their next earning report will drag it down again. This is over-reaction. Although I am enjoying my 350 Calls.
Another point: Many big mutual fund companies were expecting this and they already had GOOG shares in their loan account so they don't need to purchase anymore shares. They will just transfer it to S&P index funds.
Can somebody post a GOOG after-hours T&S, tell me where to find one, tell me where to find an after hours chart, or at least tell me what today's after hours range looked like? Thanx in advance.
GOOG Google replacing BR in S&P 500 (341.89 +1.67) -Update- Google (GOOG) will replace Burlington Resources (BR) in the S&P 500 after the close of trading on Friday, March 31. BR is being acquired by S&P 500 constituent ConocoPhillips (COP) in a deal expected to close on or about that date, pending final approvals... Tuesday Morning (TUES) will replace UICI (UCI) in the S&P SmallCap 600 after the close of trading on Wednesday, March 29. UICI is being acquired by a group of private equity firms in a deal expected to close on or about that date, pending final approvals... Matria Healthcare (MATR) will replace Hughes Supply (HUG) in the S&P SmallCap 600 after the close of trading on Thursday, March 30. HUG is being acquired by S&P 500 and S&P 100 constituent Home Depot (HD) in a deal expected to close on or about that date, pending final approvals... Tronox (TRX.Bwi) will replace Meade Instruments (MEAD) in the S&P SmallCap 600 after the close of trading on Thursday, March 30. S&P 500 constituent Kerr-McGee (KMG) is spinning off the Class B shares of Tronox to shareholders in a deal expected to close on or about that date.