Check out which companies are making headlines after the bell on Wednesday:
Shares of Cisco slipped 5 percent during after hours following poor guidance for the fourth quarter. Despite an earnings and revenue beat, the company projected that revenues for the next quarter will be down between 4 percent and 6 percent while analysts expected only a 1 percent decrease. The tech company also had forecast earnings that were slightly on the lower side of the spectrum of what the Street expected. Cisco forecasted earnings between 60 cents to 62 cents for the fourth quarter while Wall Street projected earnings of 62 cents, according to Thomson Reuters consensus estimates.
Ascena Retail Group shares plunged as much as 33 percent during extended trading after putting out a warning and sharply adjusting its third-quarter and full-year outlook. The parent company to Ann Taylor, Lane Bryant, Dressbarn and Loft previously reported their third quarter earnings to be between 7 cents a share and 12 cents a share with analysts' estimates to be 9 cents. However, the adjusted estimates to come in the range of 4 cents a share to 6 cents a share. For its 2017 outlook, the retail company previously reported its earnings to register in the range of 37 cents a share to 42 cents a share, while analysts expected 38 cents a share. The adjusted outlook now falls in the range of 10 cents a share to 15 cents a share for full-year EPS according to Thomson Reuters consensus estimates.
Shares of L Brands rose 7 percent during after hours following an earnings beat for its first-quarter. The parent company to Victoria's Secret and Bath and Body Works reported earnings of 33 cents a share while analysts expected earnings of 29 cents a share, according to Thomson Reuters consensus estimates.