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||3.62%||3.69%|
|15 yr fixed||2.77%||2.80%|
|30 yr refi||3.61%||3.69%|
|15 yr refi||2.76%||2.83%|
Today's featured rates:
Investors need someone they can bring home to mother instead of bad boys (or girls) that may make their heart beat faster. Boring beats bold in this market. Here are 10 dependable stocks we love. Southwest (ticker symbol: LUV) is one. More
Cheap oil and slow global growth may not be the only culprits of the global market turmoil. There's growing concern that central banks are spooking the markets too. More
Women coders do better than men in a gender-blind study that examines GitHub requests. More
Why is Donald Trump missing from Bleacher Creatures' new line of presidential candidates plush dolls? More