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After-hours buzz: Kraft Heinz, Tesla, Whole Foods & more

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Check out the companies making headlines after the bell Wednesday:

Shares of Kraft Heinz rose after quarterly earnings beat expectations. The maker of Ore-Ida potatoes and Jell-O posted earnings of 73 cents per share on revenues of $6.57 billion, higher than the 62 cents per share on $6.47 billion in revenue predicted by Thomson Reuters consensus estimates.

The company saw a boost due to significant cost savings from the merger of Kraft and Heinz. Famous billionaire Warren Buffett has openly backed the merger.

Elon Musk
Tesla pops 4% on results, production outlook

Tesla shares popped in extended trading, erasing the losses made during the regular session. The electric car company posted a loss of 57 cents per share, excluding items, on revenues of $1.6 billion in the first quarter. Analysts had expected a loss of 58 cents on the same amount of sales.

Earnings came on the heels of headlines that two top production executives were leaving the firm. Prominent short-seller Jim Chanos also reiterated his bearish position on Tesla at a popular investing conference Wednesday. But Tesla said in its earnings it is "on track" for production and delivery of its mass-market Model 3 car in late 2017.

Whole Foods shares also bounced after the natural grocer reported better-than-expected quarterly earnings on sales that fell short. Whole Foods posted fiscal second-quarter earnings of 44 cents per share on sales of $3.7 billion. Earnings of 41 cents a share on $3.74 billion were expected by a Thomson Reuters consensus estimate.

John Mackey, co-founder and co-chief executive officer of Whole Foods Market
Whole Foods Market up after it beats on earnings per share

Though the upscale food retailer saw same-store sales decline 3 percent, the co-CEO said the company had improved cost structure and expenses in the quarter.

Shares of TripAdvisor tumbled in extended trading after the online travel forum posted a 3 percent year-on-year decline in revenues in the latest quarter. The roll out of instant booking pressured margins in their hotel segment, Chief Financial Officer Ernst Teunissen said, in a statement, though he noted it may lead to long-term growth.

Semiconductor company Qorvo saw its stock spike after posting earnings. Qorvo is thought to be a supplier for Apple iPhones, sales of which fell short of expectations in the latest quarter. Fellow Apple supplier Skyworks edged higher alongside Qorvo.

— CNBC's Jacob Pramuk contributed to this report.