Title: Companies Making Headlines in Pre-market Trading: KKR, CrowdStrike, and GoDaddy Lead the Pack
In premarket trading, several companies are making waves with their stock performance. KKR, CrowdStrike, and GoDaddy saw significant gains, with KKR climbing over 8%, CrowdStrike adding 6%, and GoDaddy increasing by 3%. These companies are set to join the S&P 500 on June 24 as part of the index’s quarterly rebalance, replacing Robert Half, Comerica, and Illumina. However, despite the positive news for these companies, stocks like Dell Technologies and Palantir Technologies fell amid disappointment for not being added to the index.
Chipmaker AMD experienced a slight slip in stock price after a downgrade from Morgan Stanley, with concerns that Wall Street’s expectations for artificial intelligence benefits may be unattainable. On the other hand, sports betting company DraftKings saw a 1.8% increase in its stock after Morgan Stanley reiterated its overweight rating, stating that shares were worthy of a top-pick designation. Additionally, Nvidia’s stock remained steady ahead of its first day of trading after a 10-for-1 stock split.
Southwest Airlines saw a notable 8% rise in its stock following reports that activist Elliott Investment Management has taken a large stake in the company. Car marketplace Carvana also experienced a positive trend, with shares jumping 3% after being named a top pick by JPMorgan for its strong execution in sourcing a wide range of vehicles at varied prices. Renewable energy company ReNew Energy Global surged nearly 7% after Morgan Stanley raised its price target, highlighting its strong position in India’s energy transition.
Fitness center chain Planet Fitness saw a 4% increase in stock price following an upgrade from Jefferies, with analyst Randal Konik expressing optimism for strong franchise unit growth in 2025. Overall, these companies are capturing investors’ attention with their performance in pre-market trading, showcasing potential for growth and profitability in the near future. As they continue to navigate the ever-changing market landscape, it will be interesting to see how they capitalize on their momentum and overcome challenges to sustain their positive trajectory.
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