JetBlue, Eli Lilly, Occidental Petroleum and more

JetBlue, Eli Lilly, Occidental Petroleum and more

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 buyers weighed the airline’s $3.6 billion money takeover provide to take over rival Spirit Airways. The transfer additionally comes after Raymond James downgraded JetBlue to market carry out from outperform. Spirit Airways shares fell more than 2%.

Eli Lilly — The pharmaceutical inventory gained 2.7% after Morgan Stanley named Eli Lilly a high decide. The funding agency mentioned Eli Lilly had the “most robust 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 can 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 attain its beforehand said manufacturing goal of 25,000 electrical autos this yr.

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 yr.

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 prospects 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 buyers grew optimistic about Elon Musk’s huge funding within the firm. Musk will be a part of its board of administrators and he teased “significant improvements” within the coming months.

— CNBC’s Jesse Pound and Yun Li contributed reporting

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