Check out the companies making headlines after the bell Wednesday:
Viacom popped after the bell when it slashed pay for its executive chairman by 85 percent. The mass media company said it would cut the pay of famed leader Sumner Redstone to $2 million for the 2015 fiscal year, versus a total of $13 million in 2014, the company said in a release. The company also chopped the bonus for President and CEO Philippe Pierre Dauman to $14 million, a 30 percent decline.
An acquisition, paired with in-line guidance, boosted shares of cybersecurity company FireEye after hours. It announced Wednesday it would buy privately held iSIGHT Partners, a global intelligence monitor of cyberattacks. The move will make FireEye one of the largest intelligence operations in the world, according to a FireEye statement. In addition, FireEye said its Feb. 11 earnings are expected to be within previously issued guidance ranges, with fourth- quarter revenue in the range of $184 million to $185 million.
Chesapeake Energy was dinged after the bell when U.S. oil recorded its worst settlement since May 2003, with West Texas Intermediate (WTI) prices for February delivery settling at $26.55 a barrel. Chesapeake, the second-largest producer of natural gas and the 12th largest producer of oil and natural gas liquids in the U.S., has been the subject of worry among some investors in investment firm Southeastern Asset Management, who called for patience even as energy prices spiral.
"We don't know when supply and demand will rebalance and adjust prices, and thus far, our energy assumptions have been wrong. Patience is critical because both energy prices, along with the stocks of Chesapeake and Consol, can turn rapidly," Southeastern said in a shareholder letter it released Dec. 31, referring to its two primary energy holdings.