JetBlue, Eli Lilly, Occidental Petroleum and extra

Take a look at the businesses making headlines in noon buying and selling Wednesday.

JetBlue — Shares of JetBlue fell one other 7.6% on Wednesday, as traders weighed the airline’s $3.6 billion cash takeover offer to take over rival Spirit Airlines. The transfer additionally comes after Raymond James downgraded JetBlue to market carry out from outperform. Spirit Airways shares fell greater than 2%.

Eli Lilly — The pharmaceutical inventory gained 2.7% after Morgan Stanley named Eli Lilly a top pick. The funding agency mentioned Eli Lilly had the “most sturdy new product cycle” outlook within the business.

Tilray — Tilray rose 4.6% after reporting an surprising revenue in its newest quarter. Tilray additionally introduced a cope with grocery store chain Complete Meals, which is able to promote the hemp powders produced by the corporate’s Manitoba Harvest subsidiary.

Rivian — Shares of the electrical automobile firm fell 5.2% after Rivian mentioned it was on tempo to realize its beforehand acknowledged manufacturing goal of 25,000 electrical automobiles this 12 months.

Occidental Petroleum — The power producer’s shares added 1.7% after Stifel initiated protection with a purchase ranking. Stifel mentioned Occidental stays “attractively valued” even after the inventory is the best-performing identify within the S&P 500 this 12 months.

Intel — Intel’s inventory fell 1.8% after the chip maker introduced it suspended enterprise operations in Russia. Final month, Intel halted semiconductor shipments to clients in Russia and Belarus.

Twitter — Shares of the social media firm fell barely after rising for 3 straight days. The inventory surged earlier this week, as traders grew optimistic about Elon Musk’s huge funding within the firm. Musk will join its board of directors and he teased “vital enhancements” within the coming months.

— CNBC’s Jesse Pound and Yun Li contributed reporting