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After-hours buzz: FedEx, Hilton, Pandora & more

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.

Check out the companies making headlines after the bell Wednesday:

FedEx posted stronger-than-expected earnings results on Wednesday of $2.58 per share. The shipping giant's shares rose about 4 percent in after-hours trading.

Oracle delivered quarterly earnings per share that topped analyst expectations while revenue fell slightly short of estimates. The tech company's stock rose about 2.5 percent in after-hours trading.

Hilton shares jumped on a report that the company could spin off its hotel properties into a real estate investment trust in 2016. The stock spiked as high as 10 percent after the Dow Jones report before dropping back down around 5 percent.

Bank of America increased its prime rate to 3.5 percent from 3.25 percent after the Federal Reserve's rate hike announcement. The Fed decided to raise rates by 25 basis points on Wednesday, prompting Citibank and M&T Bank among others, to also make the same move.

Pandora postponed its conference call pending the release of the Copyright Royalty Board Web IV decision that sets webcasting royalty rates for the 2016–20 rate period. Shares of Pandora whipsawed in after-hours trading after the copyright ruling.

— Jacob Pramuk, Anita Balakrishnan and Dow Jones contributed to this report.