Estee Lauder Picked for S&P 500

It will replace Mercury Interactive.
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Standard & Poor's tweaked the

S&P 500

stock index late Tuesday and once again left

Google

(GOOG) - Get Report

out of the dance.

The

McGraw-Hill

unit will add

Estee Lauder

(EL) - Get Report

to the benchmark proxy after the close of trading Wednesday. The makeup company is replacing

Mercury Interactive

(MERQ)

, 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) - Get Report

into the S&P 600 SmallCap index. Per-Se replaces

NDCHealth

(NDC)

, which it is acquiring.