![](https://emeatribune.com/wp-content/uploads/2024/06/stocks-making-the-biggest-moves-before-the-bell-tesla-broadcom-dave-busters-and-more-980x653.jpg)
![](https://image.cnbcfm.com/api/v1/image/107415613-1715808852631-gettyimages-2152558837-AFP_34RQ47V.jpeg?v=1718278521&w=1920&h=1080)
Check out the companies making headlines in premarket trading. Tesla — Shares jumped 7% after CEO Elon Musk said his $56 billion pay package and a resolution to move the company’s incorporation to Texas were both set to pass a shareholder vote. The former garnered criticism heading into the vote, with notable shareholders publicly sharing their intentions to vote against the compensation plan. Broadcom — Shares jumped nearly 14% after the chipmaker posted an earnings and revenue beat and announced a 10-for-1 stock split. Adjusted earnings per share for its fiscal second quarter came in at $10.96, topping the $10.84 expected from analysts polled by LSEG. Revenue was $12.49 billion, versus the $12.03 billion expected. Dave & Buster’s — Shares of the entertainment and restaurant chain fell 10% after first-quarter sales missed expectations. Dave and Buster’s reported $588 million of revenue for the first quarter, below the $621 million projected by analysts, according to LSEG. Oxford Industries — Shares tumbled 4% after the clothing maker’s weaker-than-expected earnings report. The Tommy Bahama parent posted adjusted earnings of $2.66 per share on $398.2 million in revenue. Analysts polled by FactSet had penciled in a profit of $2.68 per share and $404.8 million in revenue. Guidance for the current quarter and full year was also softer than Wall Street anticipated. Virgin Galactic — The space tourism company slipped 8.5% after its board of directors approved a 1-for-20 reverse stock split. The stock is trading below $1. Kimberly-Clark — The consumer packaged goods stock advanced 2.2% on the heels of a rare double upgrade to buy from Bank of America. The firm said the Huggies and Kleenex maker is on the precipice of see structural changes. Nextera Energy Partners — Shares retreated 3.2% on the back of a Barclays downgrade to underweight from equal weight. Barclays said the company has no way to get out from under the overhangs caused by convertible equity portfolio financing. Corning — Shares slipped around 1% following a Morgan Stanley downgrade to equal weight from overweight. Morgan Stanley said Corning’s stock has a more balanced risk-to-reward ratio after a notable rally this year. — CNBC’s Michelle Fox and Jesse Pound contributed reporting
EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel