Bloomberg and other news sites are reporting that with Fannie Mae and Freddie Mac yanked from the Standard & Poor’s 500 Index, one of the two replacement companies is our beloved Salesforce.com (CRM).
“The addition of a company to the S&P 500 may support its stock price as money managers tracking the index purchase the shares.”
Huh? Basically, this is good for Salesforce.com, and it’s an honor. Read up on the S&P 500 over at Wikipedia.