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Tesla Inc (NASDAQ: TSLA) stock was trading higher by more than 4 percent early Wednesday morning after the company hosted its shareholder meeting Tuesday. One of the more notable takeaways is the results from a vote in which investors turned down a proposition to separate the CEO and Chairman positions. The company also reiterated its prior target of producing 5,000 Model 3 cars per week by the end of the second quarter.

Axovant Sciences Ltd (NASDAQ: AXON) stock nearly doubled in value in reaction to a new licensing agreement. The clinical-stage biopharmaceutical company that focuses on neurologic conditions said it entered into an exclusive worldwide licensing agreement with Oxford BioMedica. As part of the agreement, Axovant will develop and commercialize Oxford's OXB-102 gene therapy for the treatment of Parkinson's utilizing the LentiVector platform.

Signet Jewelers Ltd. (NYSE: SIG) was trading higher by more than 10 percent in reaction to the jewelry retailer's first-quarter results. The company said it earned 10 cents per share in the quarter on revenue of $1.5 billion versus expectations of a 5-cent per share loss on revenue of $1.4 billion. The company reiterated its full year 2019 EPS and revenue outlook which remains in-line with consensus estimates.

Alkermes Plc (NASDAQ: ALKS) was trading flat after the global biopharmaceutical company said it received a $50 million payment from Biogen after a review of preliminary data from an ongoing clinical development program for BIIB098. Alkermes expects to submit a New Drug Application for BIIB098 (formerly known as ALKS8700) in the fourth quarter.

L Brands Inc (NYSE: LB) was trading higher by more than 2 percent ahead of Wednesday's open, but earlier was trading higher by more than 6 percent. The apparel retailer reported net sales for the month of May, which were up 10 percent on a year-over-year basis while comps were up 5 percent from a year ago.

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