Estee Lauder Picked for S&P 500

Standard & Poor's tweaked the S&P 500 stock index late Tuesday and once again left Google(GOOG Quote) out of the dance.

The McGraw-Hill unit will add Estee Lauder(EL Quote) to the benchmark proxy after the close of trading Wednesday. The makeup company is replacing Mercury Interactive(MERQ Quote), which is being delisted by the Nasdaq for filing violations.

Estee Lauder closed at $33.34 Tuesday. It traded as much as 7% higher in the after-hours session after the S&P news was released.

Tuesday's decision marks the second time in a week that Google fans have been disappointed by S&P's listing committee. The $131 billion market cap Internet behemoth is among the biggest publicly traded companies not represented in the S&P 500, although many expect that to change sometime this year.

Other moves announced Tuesday included the insertion of Per-Se Technologies(PSTI Quote) into the S&P 600 SmallCap index. Per-Se replaces NDCHealth(NDC Quote), which it is acquiring.