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Business

PG&E, Lyft, Las Vegas Sands, more




PG&E, Lyft, Las Vegas Sands, more

Check out the companies making headlines before the bell:

Planet Fitness — Shares of the gym chain rose nearly 3% in premarket trading after Raymond James upgraded the stock to strong buy from market results. The Wall Street firm said the company has a robust and recession-proof business with no interest rate risk and very little short-term debt
decay. Meanwhile, its current valuation is well below its recent historical average, Raymond James noted.

PG&E — The utility stock climbed more than 5% before the market after S&P Dow Jones Indices said Friday that PG&E will replace Citrix Systems in the S&P 500, effective before the open of trading on Monday, Oct. 3. Vista Equity Partners is acquiring Citrix Systems in a transaction expected to be completed this week

Las Vegas Sands — Shares of the casino operator rose more than 7% after Macau announced its plan to allow tour groups from mainland China as soon as November. Shares of MGM Resorts rose more than 2%.

Lyft — Shares of the ride-hailing company fell nearly 4% premarket after UBS downgraded the stock to neutral from buy. The Wall Street firm cited its driver survey indicating that drivers prefer Uber and Lyft is not their main app.



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