×

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

NYSE wall street trader
Michael Nagle | Bloomberg | Getty Images

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.

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.

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.