NEW YORK ( TheStreet) -- San Francisco-based online restaurant reservation company OpenTable ( OPEN) came in short on the top line with its latest results, reporting second-quarter revenue of $34.3 million vs. the average analysts' view of $35.3 million.

Shares were tumbling 8.6% to $63.01 in premarket trading Wednesday.

Rental car company Hertz ( HTZ) reported second-quarter profit of 26 cents a share vs. the Wall Street consensus target of 21 cents a share and raised its 2011 outlook. Shares were adding 6.5% to $13.84.

Shares of Time Warner ( TWX) were falling 5.4% to $32.16 in premarket trading Wednesday after the media and entertainment company said it now forecasts that full-year adjusted earnings per share will rise "at least" in the low teens compared with the company's previous expectations that earnings would rise in the low teens.

Time Warner reported second-quarter adjusted profit of 60 cents a share vs. the average analyst estimate of 56 cents a share.

Shares of MasterCard ( MA) were rising 3.2% to $308.03 after the global payments company reported second-quarter earnings of $4.76 vs. the average analyst estimate of $4.23 a share.

Shares of CBS ( CBS) were rising 1.2% to $26.59 after the media company reported second-quarter profit of 58 cents a share vs. the average analyst estimate of 45 cents a share.

Shares of Research In Motion ( RIMM) were rising 1.1% to $24.41 in premarket trading Wednesday as it launches three new phones globally to compete against Google's ( GOOG) Android and Apple's ( AAPL) iPhone.

Video, high-speed Internet and phone services provider Comcast ( CMCSA) reported second-quarter adjusted profit of 42 cents a share vs. the consensus target of 41 cents a share. Shares were rising 0.8% to $22.90.

Financial services firm Citigroup ( C) was rising 0.2% to $37.13 as it received first-round bids of between $3 billion to $4 billion for entertainment company EMI from more than 10 groups, according to The Financial Times.

The final price could allow Citigroup to recover up to three quarters of the $5.5 billion it lent to Guy Hands in his ill-fated buyout of EMI in 2007, FT said.

Clorox ( CLX), the maker of bleach, is expected to report fourth-quarter profit of $1.19 a share on Wednesday vs. last year's earnings of $1.20 a share.

Smith Micro Software ( SMSI), the Aliso Viejo, Calif.-based developer of mobile connectivity and communications applications, reported a non-GAAP loss of $5.2 million, or 15 cents a share, for the three months ended June 30 with revenue coming in at $16.1 million, well below a year-ago total of $31.4 million.

The average estimate of analysts polled by Thomson Reuters was for a loss of 11 cents a share in the June period on revenue of $17.8 million.

-- Written by Andrea Tse in New York.

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