Check out the companies making headlines premarket. KKR, CrowdStrike, GoDaddy – KKR shares rose more than 8%, while CrowdStrike and GoDaddy gained 6% and 3%, respectively. All three companies will join the S&P 500 on June 24 as part of the index’s quarterly rebalancing. The S&P Dow Jones Index announced Friday that three stocks were leaving the index: Robert Half, Comerica and Illumina. All of these stocks fell in premarket trading. Shares of Dell Technologies and Palantir Technologies fell 1% and 3%, respectively, amid disappointment that the two stocks were not added to the index. AMD – The chipmaker’s shares fell more than 2% after Morgan Stanley downgraded its ratings, with analyst Joseph Moore saying Wall Street’s expectations for the benefits of artificial intelligence may be out of reach. DraftKings — Sports betting stocks gained 1.8% after Morgan Stanley reiterated its outperform rating and said the stock is again worthy of the title of favorite. Morgan Stanley said shares could rise despite concerns about Illinois legalizing a sports betting tax. Nvidia shares were down slightly ahead of their first day of trading following a 10-for-1 stock split. Southwest Airlines – Shares of the airline rose more than 8% after The Wall Street Journal reported that activist Elliott Investment Management had acquired a large stake in the company. Carvana shares jumped 3% after JPMorgan named the auto market a top pick, citing its strong performance in finding a wide range of vehicles at a variety of price points. ReNew Energy Global. Decarbonization shares rose nearly 7% after Morgan Stanley raised its price target on the company and said ReNew is “strongly positioned to participate in India’s energy transition, thanks to its core renewable energy business and forays into module manufacturing and green hydrogen”. Planet Fitness – Shares of the fitness center chain rose about 4% after Jefferies upgraded the company earlier Monday. Analyst Randal Konik said the “stars are aligned” for Planet Fitness stock, adding that he expects strong growth from its franchise units in 2025. — CNBC’s Michelle Fox, Alex Harring and Jesse Pound contributed reporting.
