Check out the companies making headlines before the bell: Nike — Shares rose 6% after the athletic apparel company announced CEO John Donahue would be retiring from the position . Company veteran Elliott Hill will be coming out of retirement to take the position. FedEx — Shares of the shipping giant shed more than 13% after posting a significant decline in profits and cutting its full-year guidance. Lennar — The homebuilding stock slipped 3% despite beating analysts’ expectations for its fiscal third quarter. The company reported earnings of $4.26 on revenue of $9.42 billion, while analysts polled 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 on former President Donald Trump and other early investors ended. Constellation Energy — Shares popped more than 7% after the company said it will restart the Three Mile Island nuclear plant , with the aim of selling that power to Microsoft for its data center energy needs. MillerKnoll — The office furniture stock lost more than 5% after reporting a fiscal first-quarter earnings and revenue miss. The company also issued weak guidance for its current quarter. Automobile stocks — Auto stocks were broadly trading lower after Mercedes trimmed its annual forecasts on the back of deteriorating economic conditions, specifically in China. Ford and Tesla each slipped less than 1%, while shares of General Motors lost more than 1%. PepsiCo — The snacks and beverage stock slipped 1% following a downgrade at Morgan Stanley to equal weight from overweight. The bank cited Pepsi’s lingering organic sales growth and earnings per share risks, as well as market share losses, for the call. ASML — Shares slipped 2% after Morgan Stanley downgraded the semiconductor manufacturer to equal weight from overweight. Analyst Lee Simpson cited that risks of a slowdown in expectations could be materializing for the company. Centessa Pharmaceuticals — The biotech stock was trading more than 5% higher following an upgrade from Morgan Stanley to overweight from equal weight. The bank said it saw potential for Centessa’s orexin 2 to become a best-in-class treatment for narcolepsy. Aptiv — Shares of the automobile technology supplier rose more than 1% after an upgrade to overweight from equal weight at Wells Fargo. The investment firm said Aptiv’s stock looks more attractive after a recent slump erased much of its premium valuation. Valero Energy — Shares fell 1.2% after Piper Sandler downgraded Valero Energy to neutral from overweight, saying it sees “less room for outperformance” for the refinery even as it remains “best in class.” Chewy — The pet products retailer lost nearly 3% after announcing a public offering of $500 million of its Class A stock. Chewy also said it would buy $300 million in shares from Buddy Chester, an entity affiliated with the company’s largest shareholder. Chewy plans to cancel and retire those repurchased shares following the transaction. — CNBC’s Michelle Fox, Sarah Min, Jesse Pound and Samantha Subin contributed reporting.