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||4.36%||4.24%|
|15 yr fixed||3.39%||3.26%|
|30 yr refi||4.34%||4.22%|
|15 yr refi||3.38%||3.24%|
Today's featured rates:
Office for iPad move is a symbolic victory for Nadella's Microsoft, but the company is still weighed down by many of the same old issues. More