Google shares rise 7.5 percent after company announces it's joining Standard & Poor's 500 index

The AP reports:

Google Inc. shares surged on Friday after the company announced it is joining the Standard & Poor's 500 index, giving investors another reason to scrutinize the online search engine leader's already closely watched stock.

S&P announced its decision to include Google in the influential index late Thursday, snapping the company's stock out of its recent doldrums.

Google shares soared $25.75, or 7.5 percent, to $367.64 in midday trading Friday on the Nasdaq Stock Market.

Still a long way to go to take out the old high.