JetBlue, Eli Lilly, Occidental Petroleum and more
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JetBlue passenger plane (Embraer 190), taxis LaGuardia Airport in New York City, New York.
Robert Alexander | Archive Photos | Getty Images
You can see the top companies in Wednesday’s midday trades.
JetBlue — Shares of JetBlue fell another 7.6% on Wednesday, as investors weighed the airline’s $3.6 billion cash takeover offerTo takeover a rival Spirit Airlines. This comes as Raymond James has downgraded JetBlue from market perform to outperform. Spirit Airlines shares plunged more than 2%
Eli Lilly — The pharmaceutical stock gained 2.7% after Morgan Stanley named Eli Lilly a top pick. Eli Lilly was deemed to have the most robust outlook on new product cycles in the market by the investment firm.
Tilray — Tilray rose 4.6% after reporting an unexpected profit in its latest quarter. Tilray has also signed a deal to distribute hemp powders manufactured by Manitoba Harvest, which is a subsidiary of the company.
Rivian — Shares of the electric vehicle company fell 5.2% after Rivian said it was on pace to achieve its previously stated production target of 25,000 electric vehicles this year.
Occidental Petroleum — The energy producer’s shares added 1.7% after Stifel initiated coverage with a buy rating. Stifel said Occidental remains “attractively valued” even after the stock is the best-performing name in the S&P 500 this year.
Intel — Intel’s stock fell 1.8% after the chip maker announced it suspended business operations in Russia. Intel announced last month that it had stopped shipping semiconductors to Russia and Belarus customers.
Twitter — Shares of the social media company fell slightly after rising for three straight days. Investors grew more optimistic regarding Elon Musk’s large investment in the stock earlier this week. Musk will join its board of directors and he teased “significant improvements” in the coming months.
— CNBC’s Jesse Pound and Yun Li contributed reporting
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