Check out the companies making headlines premarket. Tesla shares jumped 7% after CEO Elon Musk said his $56 billion pay package and a decision to move the company’s incorporation to Texas were subject to a shareholder vote. The first drew criticism ahead of the vote, with prominent shareholders publicly announcing their intention to vote against the compensation plan. Broadcom shares jumped nearly 14% after the chip maker reported earnings and announced a 10-for-1 stock split. Fiscal second-quarter adjusted earnings per share came in at $10.96, topping analysts surveyed by LSEG. $10.84. Revenue was $12.49 billion versus expectations of $12.03 billion. Dave & Buster’s – Shares of the entertainment and restaurant chain fell 10% after first-quarter sales fell short of expectations. Dave and Buster’s reported first-quarter revenue of $588 million, below the $621 million analysts had forecast, according to LSEG. Oxford Industries – Shares fell 4% after the clothing maker posted a weaker-than-expected earnings report. Tommy Bahama’s parent company reported adjusted earnings of $2.66 per share on revenue of $398.2 million. Analysts polled by FactSet had forecast earnings of $2.68 per share and revenue of $404.8 million. Forecasts for the current quarter and the entire year was softer than Wall Street had expected. Virgin Galactic — Shares of the space tourism company fell 8.5% after its board of directors approved a 1-for-20 reverse stock split. Shares are trading below $1. Kimberly-Clark – Consumer staples stocks rose 2.2% after Bank of America made a rare double upgrade. The company said the maker of Huggies and Kleenex is on the verge of structural changes. Nextera Energy Partners – Shares fell 3.2% following Barclays’ downgrade to underweight. Barclays said there was no way for the company to emerge from under the overhang caused by the financing of the convertible share portfolio. Corning – Shares fell about 1% after Morgan Stanley downgraded the stock to equal weight from overweight. Morgan Stanley said Corning shares have a more balanced risk-reward profile after strong gains this year. — CNBC’s Michelle Fox and Jesse Pound contributed reporting.
