Check out which companies are making headlines after the bell on Wednesday:
KB Home shares rose in late trading after the company posted earnings above analyst estimates. KB Home said it saw fourth-quarter earnings per share of 40 cents on $1.19 billion in revenue. Wall Street had projected it would report earnings of 39 cents a share on $1.15 billion in revenue, according to Thomson Reuters.
Shares of PulteGroup, another homebuilder, also ticked higher in extended trade.
Shares of World Wrestling Entertainment gained in extended trade after Guggenheim Securities initiated coverage of the company with a "buy" rating and a $25 price target — which would imply an upside of more than 30 percent from the stock's Wednesday closing price of $18.99. The firm said that the WWE Network is not only growing subscribers, but doing so at a rate that outpaces the firm's Netflix subscriber growth estimates through 2021.
Johnson and Johnson shares ticked higher in after-hours trade following a Bloomberg report that the company and Actelion have reached a tentative agreement on a price for an acquisition. The U.S. pharmaceutical company's talks to acquire the Switzerland-based Actelion are said to focus on the research and development unit, the report said.
The iShares Nasdaq Biotechnology ETF (IBB) edged a touch higher in after-hours trade, after falling nearly 3 percent on critical remarks during President-elect Donald Trump's press conference.
— CNBC's Evelyn Cheng contributed to this report.