Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

S&P 500: Netflix in, Eastman Kodak out

By Hibah Yousuf, staff reporter


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.

Media giant Cablevision Systems (CVC, Fortune 500) will also join the index, replacing King Pharmaceuticals (KG), which is being acquired by S&P 500 component Pfizer (PFE, Fortune 500)

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%.

The changes will be effective after the market closes Dec. 17, and the demoted companies will join the S&P MidCap 400 index.  To top of page

Overnight Avg Rate Latest Change Last Week
30 yr fixed4.02%4.10%
15 yr fixed3.18%3.25%
5/1 ARM3.19%3.30%
30 yr refi4.02%4.11%
15 yr refi3.20%3.26%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 20,656.58 -4.72 -0.02%
Nasdaq 5,817.69 -3.95 -0.07%
S&P 500 2,345.96 -2.49 -0.11%
Treasuries 2.42 0.02 0.92%
Data as of 12:53am ET
Company Price Change % Change
Bank of America Corp... 23.07 0.13 0.57%
Ford Motor Co 11.67 -0.10 -0.85%
Micron Technology In... 26.47 0.41 1.57%
Advanced Micro Devic... 13.79 0.00 0.00%
Chesapeake Energy Co... 5.09 0.09 1.80%
Data as of Mar 23

Sections

Mexican foreign minister Luis Videgaray said if trade talks don't result in a good agreement for his country, "Mexico will step away from NAFTA." More

The Federal Communications Commission voted Thursday to approve a proposed rule that would make it easier for phone companies to crack down on robocalls. More

Your credit score plays a major role in your personal finances. The better the score, the better it is for your wallet. Here's how to help get it above the 800 mark. More