Check out which companies are generating waves in premarket trading.
KKR, CrowdStrike, and GoDaddy KKR stock rose more than 8%, while CrowdStrike and GoDaddy gained 6% and 3%, respectively. All three businesses will join the S&P 500 on June 24 as part of the index’s quarterly rebalancing.
AMD — The chipmaker’s stock fell more than 2% after Morgan Stanley downgraded it, with analyst Joseph Moore suggesting Wall Street’s hopes for artificial intelligence advantages may be unrealistic.
DraftKings — The sports betting company rose 1.8% after Morgan Stanley confirmed its overweight recommendation and said shares were still deserving of a top selection. Morgan Stanley believes the stock can rebound despite concerns about Illinois’ legalisation of a sports betting tax.
Nvidia — Shares fell slightly ahead of the chipmaker’s first day of trade following a 10-for-1 stock split.
Southwest Airlines – The airline’s stock soared more than 8% after The Wall Street Journal reported that activist Elliott Investment Management has acquired a sizable position in the company.
Carvana – Shares jumped 3% JPMorgan called the car marketplace a top selection, highlighting its successful execution in procuring a diverse range of vehicles at varying costs.
ReNew Energy Global — The decarbonisation stock increased nearly 7% after Morgan Stanley raised its price target and stated that ReNew is “strongly positioned to play India’s energy transition, driven by its core renewable energy business and forays into module manufacturing and green hydrogen.”
Planet Fitness — The fitness centre chain’s stock rose almost 4% after Jefferies upgraded it earlier Monday. Analyst Randal Konik said “the stars have aligned” for Planet Fitness shares, and he predicts robust franchise unit growth in 2025.
Source (CNBC)
