JetBlue, Eli Lilly, Occidental Petroleum, and other stocks experiencing significant price changes during the midday trading session.

Check out the companies making headlines in midday trading Wednesday.

On Wednesday, JetBlue's shares dropped by 8.7% as investors considered the airline's $3.6 billion cash offer to acquire its rival. Additionally, Raymond James lowered its rating of JetBlue from outperform to market perform. Meanwhile, Spirit Airlines' shares declined by more than 2%.

Eli Lilly's pharmaceutical stock increased by 4.6% following Morgan Stanley's declaration of the company as a top pick. The investment firm highlighted Eli Lilly's "most robust new product cycle" outlook in the industry.

Tilray's stock price increased by 3.1% following the release of its latest quarterly profit report, and the company also disclosed a partnership with Whole Foods to sell Manitoba Harvest's hemp powders.

After Rivian announced it was on track to produce 25,000 electric vehicles this year, the shares of the electric vehicle company dropped by 5%.

After Stifel initiated coverage with a buy rating, Occidental's shares gained 0.7%. Despite being the best-performing stock in the S&P 500 this year, Stifel still considers Occidental to be "attractively valued."

Intel's stock decreased by 1.2% following the announcement that the company had suspended its business operations in Russia. Previously, Intel had stopped shipping semiconductors to customers in Russia and Belarus last month.

The social media company's stock price decreased slightly after three consecutive days of gains, despite earlier optimism among investors about Elon Musk's investment and upcoming improvements.

— CNBC’s Jesse Pound and Yun Li contributed reporting.