Check out these companies that made headlines before the market opened: Nike – Shares rose 6% after the sportswear company announced that CEO John Donahue would step down. Veteran Elliott Hill will come out of retirement to take over. FedEx – Shares of the shipping giant fell more than 13% after the company reported a significant earnings hit and cut its full-year forecast. Lennar – The homebuilder’s stock fell 3% even though the company beat analyst expectations for its fiscal third quarter. The company reported earnings of $4.26 on revenue of $9.42 billion, while analysts surveyed by LSEG had expected earnings of $3.63 on revenue of $9.17 billion. Trump Media & Technology Group – Shares traded nearly 5% lower as selling restrictions were lifted for former President Donald Trump and other early investors. Constellation Energy – Shares rose more than 7% after the company said it would restart the Three Mile Island nuclear power plant to sell the electricity to Microsoft for its data center energy needs. MillerKnoll – The office furniture stock lost more than 5% after reporting a decline in first-quarter earnings and revenue. The company also gave weak guidance for the current quarter. Auto stocks – Auto stocks traded generally lower after Mercedes cut its full-year forecasts due to worsening economic conditions, particularly in China. Ford and Tesla each lost less than 1%, while General Motors shares lost more than 1%. PepsiCo – The snack and beverage stock lost 1% after Morgan Stanley downgraded its rating to equal weight from overweight. The bank cited continued organic sales growth and risks to Pepsi’s earnings per share, as well as market share losses, for the decision. ASML – Shares fell 2% after Morgan Stanley downgraded the semiconductor maker to equal weight from overweight. Analyst Lee Simpson said risks of a slowdown in expectations for the company could materialize. Centessa Pharmaceuticals – The biotech stock traded more than 5% higher after Morgan Stanley upgraded its rating to equal weight from overweight. The bank said it sees the potential for Centessa’s Orexin 2 to become a first-in-class treatment for narcolepsy. Aptiv – Shares of the automotive technology supplier rose more than 1% after Wells Fargo upgraded it to overweight from equal weight. The investment firm said Aptiv’s stock looks more attractive after a recent slump wiped out much of its premium valuation. Valero Energy – Shares fell 1.2% after Piper Sandler downgraded Valero Energy to neutral from overweight and said it sees “less room for outperformance” for the refiner, even as it remains best in class. Chewy – The pet products retailer lost nearly 3% after announcing a $500 million public offering of its Class A shares. Chewy also said it will buy $300 million worth of shares from Buddy Chester, an entity tied to the company’s largest shareholder. Chewy plans to cancel and retire those repurchased shares after the transaction. — CNBC’s Michelle Fox, Sarah Min, Jesse Pound and Samantha Subin contributed reporting.