7 Stocks you need to know for Wednesday

Visa (V | news | PowerRating | PR Charts ) rose more than 6% after reporting Q2 earnings of $0.52, beating the consensus estimate by $0.07.

Shares of MasterCard (MA | news | PowerRating | PR Charts ) surged more than 12% after the company delivered much better than expected earnings.

The Food and Drug Administration (FDA) rejected the Merck's (MRK | news | PowerRating | PR Charts ) application for a new drug. MRK lost more than 10%.

After the close, Express Scripts (ESRX | news | PowerRating | PR Charts ) reported earnings of $0.70, beating estimates by $0.03.

Flextronics (FLEX | news | PowerRating | PR Charts ) also beat estimates by $0.03 per share.

Before the market open, Procter & Gamble (PG | news | PowerRating | PR Charts ) is scheduled to report, with analysts looking for $0.81.

And, General Motors (GM | news | PowerRating | PR Charts ) is expected to report a loss of -$1.54.