Check out the companies making headlines before the bell:
Planet Fitness – Shares of the gym franchise jumped nearly 3% in premarket trading after Raymond James upgraded the stock to a strong market buy. The Wall Street firm said the company had a resilient, recession-proof business with no interest rate risk and very little short-term debt.
deadlines. Meanwhile, its current valuation is well below its recent historical average, Raymond James noted.
P&E – Utilities stock soared more than 5% premarket after S&P Dow Jones indices announced on Friday that PG&E would replace Citrix systems in the S&P 500, effective before markets open on Monday, October 3. Vista Equity Partners Acquires Citrix Systems in Transaction Expected to Close This Week
Las Vegas Sands – Shares of the casino operator jumped more than 7% after Macau announced plans to allow tour groups from mainland China as early as November. Shares of MGM Resorts increased by more than 2%.
Lyft – Shares of the ride-hailing company fell nearly 4% premarket after UBS downgraded the stock to neutral from the buy. The Wall Street firm cited its driver survey indicating that drivers prefer Uber and that Lyft is not their primary app.