×

After-hours buzz: Tesla, Cisco, L Brands & more

A pedestrian uses a mobile device to photograph the New York Stock Exchange.
Michael Nagle | Bloomberg | Getty Images
A pedestrian uses a mobile device to photograph the New York Stock Exchange.

Check out the companies making headlines after the bell Wednesday:

Shares of Tesla Motors tumbled after the bell when the electric car maker announced a public offering of about $2 billion shares of its common stock to accelerate the ramp up of the Model 3.

Tesla said that it will use the capital to help meet the overwhelming demand for the Model 3. As of April 21, Musk said that the company had received about 400,000 orders for the vehicle. The surge of demand raised questions about how the electric automaker could deliver the vehicles in a timely manner.

Shares of Cisco Systems popped in extended trade after the networking company reported better-than-expected quarterly earnings on the back of growth in Asia. Cisco claimed adjusted earnings of 57 cents per share on $12 billion in revenue for its fiscal 2016 third quarter, above the 55 cents per share on $11.97 billion in revenue expected by a Thomson Reuters consensus estimate.

Sales in its Asia Pacific, China and Japan segment rose 10 percent to $1.94 billion even as sales dipped in other regions.

L Brands saw shares slide amid lower-than-expected sales in the latest quarter. The parent company of Victoria's Secret and Bath & Body Works said sales came in at $2.61 billion, just missing the $2.62 billion predicted by Wall Street. Victoria's Secret recently shifted away from the Victoria's Secret catalog, will stop selling swimwear, and will exit apparel outside of its younger-facing Pink label.

L Brands' earnings, though, were 4 cents higher than expected, coming in at 59 cents a share.

Teen apparel retailer Urban Outfitters' stock bounced after its quarterly comps beat estimates. The Philadelphia-based company reported better-than-expected same-store sales, which rose 1 percent. They were expected to fall 0.4 percentas Urban Outfitters offered lower markdowns and Free People offered higher markdowns.

Overall, the company posted earnings of 25 cents per share on revenue of $763 million. Still, the company warned that sales might started out slower in the current quarter, according to comments on a conference call.

Shares of customer-relations software company Salesforce.com rose as the firm beat Wall Street's predictions on quarterly earnings and revenues. The enterprise technology firm posted earnings of 24 cents per share, excluding items, on revenues of $1.92 billion. Consensus estimates expected 23 cents per share on $1.89 billion in revenue.

Salesforce also upped guidance for 2017 revenues, citing both larger deals and a higher volume of deals.

Zillow shares wavered after reports a judge had made a ruling in a legal case with rival Move. NewsCorp's Move seeks $1.77 billion in damages based on allegations that former executives gave away its trade secrets when they left to work at Zillow, according to the Puget Sound Business Journal.

[Programming note: Zillow's CEO is slated to appear on CNBC's "Mad Money" Wednesday night.]

— CNBC's Christine Wang, Jacob Pramuk, Krystina Gustafson and Alex Crippen contributed to this report.