Check out which companies are making headlines after the bell on Wednesday:
Shares of Netflix shot up 8 percent Wednesday after the company posted earnings above analyst expectations. The video streaming service reported fourth-quarter earnings of 15 cents per share and revenue of $2.48 billion. Wall Street analyst expected 13 cents per share and 2.47 billion, according to a consensus estimate from Thomson Reuters. Netflix also reported 7.05 million new subscribers worldwide, exceeding its own expectations of 5.32 million.
Mondelez shares were up 3 percent after the snack company said it is selling its Australian and New Zealand grocery business and multiple brands to Bega Cheese. In a press release, the company which owns brands like Oreos and Cadbury Chocolates, said Bega Cheese will pay 460 million AUD for international brands like Vegemite.
Shares of Kinder Morgan were down 3 percent after the company reported earnings of 8 cents per share on $3.39 billion in revenue. Wall Street analysts expected the firm to post earnings of 19 cents a share on $3.54 billion in revenue, according to a consensus estimate from Thomson Reuters.
Shares of Canadian Pacific Railway were down 1 percent after the company posted a lower-than-expected quarterly profit. Additionally, the railway company said that its COO Keith Creel will be its new CEO. Shares of rival railway companies including Norfolk Southern and CSX were up sharply following the news.