NEW YORK (CNNMoney.com) -- It's out with the old and in with the new at the Standard & Poor's 500, as four companies will replace current issues on the benchmark index.
Netflix (NFLX), F5 Networks (FFIV), and energy company Newfield Exploration (NFX) will replace The New York Times (NYT), Eastman Kodak (EK, Fortune 500) and Office Depot (ODP, Fortune 500) on the index, which aims to represent "the leading companies in leading industries" and act as a common proxy for the broader U.S. stock market.
Shares of the soon-to-be members surged early Friday. Cablevision gained 3.1% and was the biggest gainer among the four companies.
Shares of Netflix were up 2%, and shares of Seattle-based tech company F5 Networks and Houston's energy company Newfield Exploration were up 1%.
Shares of New York Times and Office Depot slipped more than 2%, while King Pharmaceutical's stock edged slightly lower. Shares of Kodak -- which graced the bluest of blue-chip indicators, the Dow Jones industrial average, from 1930 to 2004 -- were up 0.6%.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.81%||3.85%|
|15 yr fixed||3.05%||3.07%|
|30 yr refi||3.79%||3.83%|
|15 yr refi||3.06%||3.06%|
Today's featured rates:
Treasury Secretary Steven Mnuchin's fiancée will sever ties to the Hollywood businesses Mnuchin was involved with. More
While President Trump sees himself as the savior of coal, his most senior economic aide doesn't look like he's jumping on the coal train. More
The Anita Borg Institute for Women and Technology confirmed that it has cut ties with Uber. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
Betsy DeVos oversees a $1.3 trillion student debt program that touches 42 million Americans. Many borrowers complain about the servicing they receive. More