Check out the companies making headlines in pre-market trading. Tesla — Shares of Tesla rose 7% after Chief Executive Elon Musk said his $56 billion compensation package and a resolution to move the company’s domicile to Texas will be subject to a shareholder vote. The former faced criticism ahead of the vote, with prominent shareholders publicly expressing their intention to vote against the pay package. Broadcom — Shares of Broadcom rose nearly 14% after the chipmaker beat earnings and revenue estimates and announced a 10-for-1 stock split. Adjusted earnings per share in the fiscal second quarter were $10.96, higher than the $10.84 expected by analysts polled by LSEG. Revenue was $12.49 billion, above expectations of $12.03 billion. Dave & Buster’s — The entertainment and restaurant chain fell 10% after first-quarter sales fell short of expectations. According to LSEG, Dave and Buster’s first-quarter revenue was $588 million, below analysts’ forecast of $621 million. Oxford Industries — Shares of Oxford Industries fell 4% after the apparel maker reported a weaker-than-expected profit. Tommy Bahama parent company reported adjusted earnings per share of $2.66 on revenue of $398.2 million. Analysts polled by FactSet expected earnings of $2.68 per share and revenue of $404.8 million. Guidance for the current quarter and full year also came in below Wall Street expectations. Virgin Galactic — The space tourism company’s board of directors approved a 20-for-1 reverse stock split, sending shares down 8.5%. The stock is currently trading below $1. Kimberly-Clark — The consumer staples stock rose 2.2% after a rare double upgrade from Bank of America. The Huggies tissue maker is on the verge of structural change, the company said. Nextera Energy Partners — Shares fell 3.2% as Barclays downgraded the company to underweight from equal weight. Barclays said it was unable to escape the difficulties caused by its convertible equity portfolio financing. Corning — Shares of Corning fell about 1% after Morgan Stanley downgraded the stock to equal weight from overweight. Morgan Stanley said Corning stock has a more balanced risk-reward balance after its sharp gains this year. —CNBC’s Michelle Fox and Jesse Pond contributed reporting
