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 fixed3.62%3.69%
15 yr fixed2.77%2.80%
5/1 ARM3.12%3.07%
30 yr refi3.61%3.69%
15 yr refi2.76%2.83%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 15,973.84 313.66 2.00%
Nasdaq 4,337.51 70.67 1.66%
S&P 500 1,864.78 35.70 1.95%
Treasuries 1.75 0.10 6.33%
Data as of 2:37am ET
Company Price Change % Change
Bank of America Corp... 11.95 0.79 7.08%
General Electric Co 28.26 0.81 2.95%
Cisco Systems Inc 25.11 0.43 1.74%
Chesapeake Energy Co... 1.59 -0.19 -10.67%
Freeport-McMoRan Inc... 5.53 0.64 13.09%
Data as of Feb 12

Sections

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

Eastern Illinois University laid off 198 staff members this week, and the college president is blaming the state government. More