SAN FRANCISCO (MarketWatch) — Tesla Motors Inc. shares rallied in the extended session Wednesday after the company’s quarterly earnings topped expectations, while Qualcomm Inc. shares dropped on disappointing results.

Tesla Motors Inc. TSLA, -5.15% shares rose 6.9% to $247.01 on heavy volume after an early drop. The electric-car maker topped earnings expectations but fell short on its deliveries target.

See MarketWatch’s coverage of Tesla’s conference call.

Qualcomm Inc. QCOM, -1.40% shares declined 6% to $72.59 on heavy volume after the chip maker’s fiscal fourth-quarter results came in light and its forecast fell short of expectations.

Whole Foods Market Inc. US:WFM shares rose 7.1% to $42.84 on heavy volume after the high-end grocery chain’s fiscal fourth-quarter earnings topped Wall Street earnings expectations.

CBS Corp. US:CBS shares advanced 2.3% to $53.70 on heavy volume after the media company topped expectations and saw a big earnings gain from its CBS Outdoor Americas spinoff.

News Corp NWSA, -6.52% NWS, -6.91% shares advanced 3.9% to $15.89 on moderate volume after the media company’s quarterly results were better than Wall Street expected. News Corp owns Dow Jones & Co., the parent company of The Wall Street Journal and MarketWatch.

CF Industries Holdings Inc. CF, -6.41% shares fell 5.4% to $240 on moderate volume after the fertilizer company posted sharply lower-than-expected profits for the for the quarter.

WebMD Health Corp. US:WBMD shares dropped 9.1% to $37.50 on heavy volume after the health website forecast fourth-quarter revenue of $152 million to $162 million. Analysts expect $161.3 million.

Zillow Inc. Z, -4.01% shares fell 8.2% to $95.25 on heavy volume after expenses related to the real estate website’s acquisition of Trulia Inc. cut into results.

SolarCity Corp. SCTY, +7.36% shares fell 2.4% to $53.15 on moderate volume after the solar technology company swung to a profit in the third quarter but issued an outlook that fell shy of the Wall Street consensus.

Solazyme Inc. US:SZYM shares fell 20% to $6 on moderate volume after the renewable oil and bioproducts company reported an adjusted loss of 45 cents a share $17.6 million. Analysts expected a loss of 42 cents a share on revenue of $19.6 million.

In the regular session Wednesday, these stocks saw action:

Decliners

TripAdvisor Inc. TRIP, -5.25% reported quarterly results that missed market expectations.

Nu Skin Enterprises Inc. NUS, -1.61% released a disappointing fourth-quarter outlook.

FireEye Inc. FEYE, -1.66% released third-quarter results which missed forecasts.

HomeAway Inc. AWAY, -4.75% reported quarterly earnings that fell 42% due to higher costs.

Pioneer Natural Resources Co. PXD, -4.73% will offer 5.75 million shares to raise about $1 billion.

Gainers

Devon Energy Corp. DVN, -5.82% said its third-quarter profit surged as its revenue doubled.

Mondelez International Inc. MDLZ, -0.90% announced better-than-expected earnings and raised its profit outlook for the year.

EOG Resources Inc. EOG, -4.44% reported quarterly results that beat analysts’ profit-and-revenue expectations.

Chesapeake Energy Corp. US:CHK said Wednesday that its third-quarter profit more than tripled.

Tickers to Watch

Duke Energy Corp.’s DUK, -0.97% quarterly results missed analysts’ expectations, citing an unseasonably cool summer.

Time Warner Inc. US:TWX reported a 3% rise in quarterly revenue, with growth seen across all of its broadcast units.