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Noble Corp. (NE) - Added to the S&P 500

Jan. 12, 2011 10:17 AM ETNE
Greg Herman profile picture
Greg Herman's Blog
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After the close yesterday, news broke that Noble Corp. (NE) would be added to the S&P 500. This is real interesting because Noble is only the second foreign headquartered company to be added to the index. In an article on MarketWatch, the author noted that foriegn companies who have the majority of thier employees and revenue within the United States can now be elgible for addition to the index. This is obviously going to help drive the price up in the short-term, which is not really what I'm concerned about, but will gladly accept, since positive headlines for the company have been hard to come by. Many more people will become owners of an excellent business at a great price because of this action, even if they do not even know it!

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