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||3.78%||3.78%|
|15 yr fixed||2.99%||2.98%|
|30 yr refi||3.76%||3.79%|
|15 yr refi||3.00%||2.98%|
Today's featured rates:
Nike is opening up shop on Amazon.com and the company plans "big shifts" over the coming year. More
JPMorgan Chase is hoping to ease Washington D.C.'s income inequality problem by investing $10 million in two of its poorer neighborhoods. More
Russia says it will ban Facebook in 2018 if the social network fails to comply with local data storage laws. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
When you're making big career decisions, you turn to your mentors and your trusted peers. But how do you find these mentors and trusted peers in the first place? More