See the companies making headlines in midday trading. Broadcom – Shares of the chipmaker rose about 12% after the company beat earnings and revenue estimates for the fiscal second quarter and announced a 10-for-1 stock split. Adjusted earnings per share were $10.96 on revenue of $12.49 billion. Analysts polled by LSEG expected earnings of $10.84 per share and revenue of $12.03 billion. Shares of data storage and artificial intelligence companies Super Micro Computer, Arista Networks and Nvidia also rose 10%, 4%. and 2% respectively. Signet Jewelers – Shares fell more than 13% after the company reported mixed first-quarter earnings results. Signet reported adjusted earnings of $1.11 per share and revenue of $1.51 billion. Analysts polled by FactSet expected earnings of 85 cents per share on revenue of $1.52 billion. Company management also noted in its call with earnings analysts that consumer pressure continues to be exerted and that discounting activity has increased among many in the jewelry industry. Dave & Buster’s – Shares fell nearly 10% after the entertainment and restaurant chain’s first-quarter sales fell short of expectations. The company reported revenue of $588 million, below analysts’ expectations of $621 million, according to LSEG. Virgin Galactic – Shares fell nearly 13% after the space tourism company’s board of directors approved a 1-for-20 reverse stock split, set to take effect after the market closes on June 14. The stock is currently trading below $1. Oxford Industries – Shares fell 1% after the clothing maker reported first-quarter earnings that missed estimates. The company, which owns Tommy Bahama, posted adjusted earnings of $2.66 per share and revenue of $398.2 million. Analysts had expected earnings of $2.68 per share on revenue of $404.8 million, according to FactSet. both the second quarter and the full year were softer than expected. Kimberly-Clark – Shares of the Huggies and Kleenex maker rose about 3% after Bank of America twice upgraded the stock to buy and raised its price target. The consumer products company is facing structural changes, according to Bank of America. Ford Motor – Shares fell 1% after the automaker ended a costly electric vehicle dealership program that required U.S. dealers to invest more than $1 million to sell vehicles. Tesla – The company’s shares rose 4% after CEO Elon Musk said shareholders were set to accept his $56 billion payout package and a decision to relocate the company to Texas. Ahead of the vote, some prominent shareholders said they planned to vote against the pay package. Ulta – Shares of the cosmetics retailer rose 1.8% after being named a top stock by Oppenheimer. The company said Ulta has a “compelling risk-reward scenario.” NextEra Energy – Renewable energy shares gained 1% even after Barclays downgraded them to underperform from equal weight. The firm sees no “clear exit” for the company due to the over-funding of the convertible equity portfolio. Paramount Global – Shares of the entertainment giant fell nearly 7%, adding to an already difficult week for the company. Earlier this week, National Amusements halted merger talks between Paramount Global and Skydance. The stock is down more than 13% for the week. Warner Bros. Discovery – Shares of the media conglomerate fell 6% after it announced that Liberty Global was acquiring the company’s shares in the Formula E racing series. The deal is expected to close before the end of the year. Upon completion, Liberty’s total ownership stake in the series will reach 65%, meaning it will have a majority stake. Generac – The generator maker lost more than 5%. Janney Montgomery Scott on Thursday downgraded the company to neutral from buy, citing Generac’s valuation. “We believe further multiple expansion is unlikely,” analyst Sean Milligan said, adding that his team is seeking “additional clarity on the introduction of updated energy technology products in 2025.” — CNBC’s Alex Harring, Michelle Fox, Sarah Min and Darla Mercado contributed reporting.
