By running some of your mileage in the morning and the rest later on during the day, your body is getting mostly the same physical benefits of a continuous long run. Of course, it's definitely easier mentally to run 8 miles in the morning and 8 miles at night, rather than 16 miles all at once -- which is why you don't want to do it every week. Ideally, you want to run your long run continuously, since that's what you'll be doing in your half marathon or marathon. But splitting your run is a great way to squeeze a long run into a busy week and it definitely beats the alternative of skipping your long run altogether.
If you plan to split up your long run, keep in mind that you don't get the same physical benefits if you sleep in between your runs. So running some miles on a Thursday evening and some more on Friday morning doesn't count, since your body gets a chance to recover and you're not really running on tired legs.

