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Top stock movers before the market opens: DraftKings, Carvana, Southwest Airlines, Planet Fitness, and others

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Several companies are making headlines in premarket trading, with KKR, CrowdStrike, and GoDaddy all seeing significant gains in their stock prices. These three companies will be joining the S & P 500 on June 24 as part of the index’s quarterly rebalance. Meanwhile, the stocks of Robert Half, Comerica, and Illumina are set to leave the index, with all three seeing lower premarket trading prices. Dell Technologies and Palantir Technologies also experienced slight drops in their stock prices after not being added to the index.

AMD, a chipmaker, saw its stock slip more than 2% after a downgrade from Morgan Stanley. The analyst cited concerns that Wall Street’s expectations for artificial intelligence benefits may be too high. On the other hand, DraftKings, a sports betting stock, added 1.8% following an overweight rating from Morgan Stanley, which commented on the stock’s strong potential despite worries over Illinois’ sports betting tax. Nvidia’s shares were marginally lower as the chipmaker prepared for its first day of trading after a 10-for-1 stock split.

Southwest Airlines experienced an 8% increase in its stock price after news that activist Elliott Investment Management had acquired a large stake in the company. Carvana, a car marketplace, also saw its shares rise by 3% after being named a top pick by JPMorgan. ReNew Energy Global, a decarbonization stock, surged nearly 7% following a price target raise from Morgan Stanley, which highlighted the company’s strong position in India’s energy transition. Planet Fitness, a fitness center chain, advanced about 4% after an upgrade from Jefferies, which predicted strong franchise unit growth in the coming years.

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