A JetBlue passenger jet (Embraer 190) taxi at Lagarde Airport in New York, New York.
Robert Alexander | Archive Photos | Getty Images
Check out the companies that made headlines in the Wednesday afternoon transaction.
JetBlue – Shares of JetBlue fell another 7.6% on Wednesday as investors weighed in on the airline’s $ 3.6 billion cash takeover offer to take over rival Spirit Airlines. The move comes after Raymond James downgraded JetBlue to the market. Shares of Spirit Airlines fell more than 2%.
Eli Lilly – Pharmaceutical stocks rose 2.7% after Morgan Stanley topped Eli Lilly. The investment firm says Eli Lilly has the “strongest new product cycle” outlook in the industry.
Tilray – Tilray rose 4.6% after reporting an unexpected profit in its most recent quarter. Tiller also announced an agreement with supermarket chain Hole Foods to sell hemp powder produced by the company’s subsidiary Manitoba Harvest.
Rivian – Shares of the electric vehicle company fell 5.2%, while Rivian said it was on track to achieve the previously set production target of 25,000 electric vehicles this year.
Occidental Petroleum – Energy producer shares added 1.7% after starting coverage with a stiff buy rating. Steffel said Occidental remained “attractively valued” despite the stock being the best-performing name in the S&P 500 this year.
Intel – Intel’s stock fell 1.8% after chip maker Russia announced it would suspend business. Last month, Intel stopped shipping semiconductors to customers in Russia and Belarus.
Twitter – Shares of the social media company fell slightly after rising for three days in a row. The stock rose earlier this week as investors became more optimistic about Elon Musk’s large investment in the company. Musk will join its board of directors and he has teased “significant improvements” in the coming months.
– CNBC’s Jesse Pound and Eun Lee reporting contributions