Check out the companies making headlines in pre-market trading. KKR, CrowdStrike, GoDaddy — KKR shares rose more than 8%, while CrowdStrike and GoDaddy gained 6% and 3%, respectively. The three companies will join the S&P 500 on June 24 as part of the index’s quarterly rebalancing. S&P Dow Jones Indices announced on Friday that the three stocks exiting the index are Robert Half, Comerica and Illumina. The stocks were all lower in premarket trading. Shares of Dell Technologies and Palantir Technologies fell 1% and 3%, respectively, as the stocks were not included in the index. AMD — Shares of the chipmaker fell more than 2% after Morgan Stanley downgraded the company and analyst Joseph Moore said Wall Street’s expectations for artificial intelligence gains may not materialize. DraftKings – The sports betting stock rose 1.8% after Morgan Stanley reiterated its overweight rating and said the stock once again deserves designation as a top pick. Morgan Stanley said the stock could rise despite concerns about Illinois’ legalization of a sports betting tax. Nvidia — Shares of the chipmaker fell slightly ahead of its first day of trading following a 10-for-1 stock split. Southwest Airlines — Shares of Southwest Airlines rose more than 8% after the Wall Street Journal reported that activist Elliott Management held a large stake in the airline. Carvana — shares rose 3% after JPMorgan ranked the auto market as a top pick, citing its strong execution capabilities in sourcing a variety of vehicles at different prices. ReNew Energy Global — Morgan Stanley raised its price target on the company after asserting that ReNew is “well-positioned in India’s energy transition, driven by its core renewables business and its foray into module manufacturing and green hydrogen.” , decarbonization stocks soared nearly 7%.” Planet Fitness — Shares of the fitness center chain rose about 4% after an upgrade from Jefferies earlier Monday. Analyst Randal Konik said “the stars are aligned” for Planet Fitness stock, adding that he expects strong growth in the franchise business in 2025. Michelle Fox, Alex Harring and Jesse Pound contributed reporting
