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Netflix Benefits from an S&P 500 Shuffle, New York Times Doesn't

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There are plenty of metaphors in the market -- bursting bubbles and whatnot -- but after the closing bell on December 17, we'll witness a clear indicator of the obsolescent gutted by the bleeding edge.

Netflix -- along with F5 Networks and Newfield Exploration -- will join fellow large-cappers in the S&P 500. Simultaneously, the New York Times will be bust down to the minors -- the S&P MidCap 400. The Gray Lady -- another fitting metaphor -- is also taking Office Depot and Eastman Kodak along with it.

Netflix enjoyed a healthy boost in extended trading following the announcement. Stocks rose $10.71, or 5.6%, to $201.76. The New York Times, on the other hand, eased 21 cents, or 2.2%, to $9.53.

But what better way to illustrate one company that's continuing to evolve and setting the standards for an entire industry, while an old, ailing brand clutches a dying product, refusing to believe that a change is in order? One innovative and sleak, another cold and stodgy.

Then again, as Netflix leads a streaming media pack that includes Google TV, Apple TV, Hulu, and Amazon, it stands to reason that cable companies should also be swimming in its wake. However, upon Pfizer's acquisition of King Pharmaceuticals, there leaves an addition space in the S&P 500. And who's about to fill it?


Ah, well. Some metaphors don't have to be completely sound.
POSITION:  No positions in stocks mentioned.