Check out the companies that make headlines before the bell. Warner Bros Discovery – Shares have jumped nearly 9% after Warner said it would be split into two public companies by next year. One company hosts WBD’s streaming services and movie properties, while the other includes cable networks such as CNN and TNT Sports. Tesla – Shares in the electric car maker fell about 2% after Baird downgraded its shares from Buy to Neutral. The company said CEO Elon Musk’s comments on the Robotaxi plan were “a little too optimistic,” and Musk’s relationship with President Donald Trump would add “a considerable uncertainty.” ECHOSTAR – After the Wall Street Journal, stocks fell 11%, citing familiar people, saying the telecommunications company is considering filing for bankruptcy under Chapter 11. The company is seeking to protect the wireless spectrum license under review by the Federal Communications Commission, the report said. Robinhood, Applovin – Shares in Robinhood and Applovin fell by about 4% each as neither name was added to the S&P 500 on Friday. Robin Hood surged more than 13% last week leading up to the rebalancing announcement, while Applovin has made its way forward by more than 6%. IONQ – Quantum Computing Stock has won over 7% after it announced it has agreed to acquire Oxford Ionics with $1.075 billion in cash and stock. The transaction is expected to close in 2025. McDonald’s – The fast food chain stock slipped nearly 1% on Morgan Stanley’s downgrade heels. Morgan Stanley said the company is not insulated from pressure on the fast food sector. Moelis & Co. – The stocks were slightly lower. On Monday, the Wall Street Journal reported that CEO Ken Morris plans to step down from his role in investment banking. He said in an interview that he is expected to become an effective executive chairman on October 1st. -CNBC’s Alex Hurling, Fred Invert and Sarah Min contributed the report.
