Lockheed Martin said net income rose 10% in the second quarter, despite a 4% drop in revenue.
Wendy's reported better-than-expected earnings and announced plans to sell 425 company-owned restaurants.
Netflix shares sank one day after the streaming-video service added fewer subscribers than expected in the second quarter.
Meanwhile, Cisco announced plans to buy cybersecurity company Sourcefire for $2.7 billion. (Cybersecurity stocks rally)
Shares of TheStreet briefly rose above $2 after CNNMoney reported that private equity firm Spear Point is pushing for a sale of the company, and has positioned itself as a bidder.
World markets: European markets reversed course late in the day and ended lower, while Asian markets ended with gains.