Yandex - "The Google of Russia" opened up 40%. This is not so much a Moscow play as a global Internet play. Watch its impact on other global search engine stocks today. YNDX ( quote ) is the sixth-largest Web search engine in the world. And its IPO shares surged $10 once they opened for trading today, giving the stock an immediate 40% boost. For better or worse, retail investors are going to have trouble trading YNDX for awhile. Shares of Yandex have been allocated to the big tech funds and long-only players, so 99% of the community who looked for allocations will be disappointed. Until those Yandex shares filter back out into the market, this stock will trade at a massive premium. In the meantime, other search names like GOOG ( quote ) and Chinese counterpart BIDU ( quote ) are the best proxies out there -- in fact both are up 1% today. GOOG is already undervalued by YNDX standards, trading at maybe half the P/E. While it might not have the emerging markets growth footprint as the Russian company, it also has the heft to buy its way into any market open to it. Figure YNDX was worth $8 billion at its IPO and is now worth maybe $11 billion. GOOG with its $168 billion in market capitalization could absorb the Yandex market cap without blinking.