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S&P 500 index: Freddie Mac, Fannie Mae out, Cloud Computing Vendor Salesforce new darling!

I don't have a lot to say about Fastenal, but I'm psyched to see salesforce.com earn a spot on the S&P 500 roster. Bravo, Standard & Poor's.

"You still have to go a long way to find the last Internet stock added to the index," I wrote last month, when new media splitter IAC (Nasdaq: IACID) was replaced by mutual fund giant Invesco (NYSE: IVZ).

The index replaced a dot-com company with a financial-services player a month ago. It's fitting that it should reverse that order this time around.

salesforce.com is a pretty amazing company, revolutionizing the enterprise software industry by providing cheaper Web-based solutions to standard customer relationship management applications. It's become the poster child for cloud computing. Instead of software that sits on individual PCs' hard drives, its growing number of server-stored programs makes computing truly portable.

Tim Beyers recommended Google (Nasdaq: GOOG) to Rule Breakers subscribers earlier this year, not because of the company's obvious pole position in paid search, but because of its initiatives in cloud computing. It's hard not to warm up to Google Docs as an online suite of productivity apps. It's also hard to beat the price (free for individual users).


The Motley fool

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