Shares of Ares Management jumped over 8% in premarket trading. Ares Management will join the S&P 500 before market open on December 11, S&P Dow Jones Indices said on Monday, becoming the latest alternative asset manager to join the benchmark index.

The company will replace Pringles-maker Kellanova in the S&P 500, which is set to be acquired by candy and snacks giant Mars in a $36 billion deal.

Wave Life Sciences rose another 4% after surging 147% on Monday. Wave Life Sciences reported interim Phase 1 data showing that a single 240 mg dose of its investigational obesity therapy WVE-007 reduced visceral fat by 9.4% and total fat by 4.5% at three months, while increasing lean mass by 3.2%.

The placebo group showed no meaningful changes. The drug also produced sustained reductions of over 75% in serum Activin E and was generally safe and well-tolerated up to 600 mg. Wave plans to release additional three- and six-month follow-ups across dosing cohorts through mid-2026 as it prepares for Phase 2 studies.

Shares of WBD rose 1.9% in premarket trading. Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, throwing a wrench into the deal with Netflix in a last-ditch effort to create a media powerhouse that would challenge the dominance of the streaming giant.