Google’s New Name Alphabet Spells Gains, Stock Rallies to Lead S&P 500

Shares of Google (GOOGL) rallied to finish Tuesday’s regular trading session in positive territory as the top performer on the S&P component, making it TheStreet's Move of the Day. The stock continued to trade higher one day after announcing its new operating structure and changing its name to Alphabet. The shift could mean a wave of product development, getting Wall Street excited. On Monday, the tech giant said it would become a subsidiary of a new holding company as it continues taking on new endeavors such as research lab Google X and Calico, which is trying to extend human lives. Its other ventures include driverless cars, high-speed Internet service and health-related technologies. The company can now focus in on individual business units, which could maximize their performance. TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says the stock is not done going higher. He thinks the move has incredible importance for stockholders and prospective investors. TheStreet's Kurumi Fukushima reports in New York.