Check out the companies making headlines after the bell on Wednesday:
Shares of Shake Shack fell as much as 9 percent in extended trading following the company's second-quarter earnings release.
The burger restaurant reported second-quarter earnings of 14 cents per share on revenue of $66.5 million, compared to analysts expectations of 13 cents per share on revenue of $63 million, according to a consensus estimate from Thomson Reuters.
The company missed on comparable-store sales, reporting 4.5 percent growth for the second-quarter compared to analysts' estimates of 4.9 percent, according to StreetAccount.
Chesapeake Energy's stock climbed after it ended its gas gathering agreement for a Texas operating area called Barnett shale. Saddle Barnett Resources, backed by private equity firm First Reserve, will acquire Chesapeake's interests in the area.
It's a move the company said will increase its operating income by approximately $200 million to $300 million per year from 2016 through 2019. The exit of Barnett Shale comes as Chesapeake mounts a turnaround, taking measures to improve its balance sheet and liquidity, CEO Doug Lawler said in a statement.
"Today's announcements mark a major step in our continued progress to transform Chesapeake," Lawler said.
Shares of Blue Buffalo Pet Products popped as much as 2 percent after hours following the company's second-quarter earnings and revenue beat.
The pet food company reported second-quarter earnings of 19 cents per share ex-items on revenue of $287 million, compared to analysts' expectations of 17 cents per share on revenue of $281 million,according to a consensus estimate from Thomson Reuters.
Wendy's shares tumbled 2.75 percent on Wednesday after the burger chain reported disappointing same-store sales at its North America division.
Same-store sales in North America rose 0.4 percent in the second quarter, missing the 1.9 percent rise analysts polled by research firm Consensus Metrix had expected.
Revenue decreased 21.8 percent year-over-year for the burger chain, from $489.5 million to $382.7 million. Wendy's attributed the decline to it owning 361 fewer restaurants in the second quarter of 2016 compared to the year-ago period.
Macy's shares edged higher ahead of the company's second quarter earnings, expected before the market opens on Thursday. The department store company is expected to post earnings of 45 cents per share on revenues of $5.75 billion, according to a Thomson Reuters consensus estimate. The company's shares have lost nearly 50 percent over the past year as rivals, like online and discount retailers, have seen big boosts.
"We are seeing continued weakness in consumer spending levels for apparel and related categories," CEO Terry Lundgren said in May.
Macy's report will come on the heels of falling same-store sales at stores like Gap and Michael Kors.
-CNBC's Anita Balakrishnan, Sarah Whitten, and Fred Imbert contributed to this report.