A trader works on the floor of the New York Stock Exchange.
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Check out the companies making headlines midday:
JetBlue Airways — Shares of the airliner rose 2% after an analyst at Deutsche Bank named JetBlue a “catalyst call”short-term investment idea. The analyst cited JetBlue’s “good” balance sheet and “solid” market position, in addition to having controlled costs and primarily operating domestically.
Monster Beverage — Monster Energy rose 1.6% on Wednesday after Credit Suisse named the beverage stock one of its top picks. The analysts cited the recent slide for the stock, which is down more than 14% since recent highs in July, as a reason for the designation. Credit Suisse has an overperform rating on Monster and expects its revenue to grow by 10% this year.
Papa John’s — Papa John’s shares climbed more than 2% after an analyst at Stifel upgraded them to buy from hold following the announcement that Rob Lynch will take over as CEO. “We believe the CEO change represents a tactical opportunity for investors giving them time to weigh the results of the turnaround,” the analyst said.
Autodesk — Shares of Autodesk dropped 10% after the software maker cut its full-year earnings and revenue outlook, citing currency headwinds and uncertainty around the U.K., German and Chinese manufacturing markets.
Tallgrass Energy — Shares of Tallgrass Energy soared more than 34% after Blackstone offered to take the company private. The investment firm, which already owns 44% of the outstanding equity of the Kansas-based energy company, offered to pay $19.50 per share in cash for the company. Shares are now trading near this offer price.
Hewlett Packard Enterprise — HPE shares gained more than 3% after the enterprise tech company reported earnings per share that topped analyst expectations. The company posted a profit of 45 cents per share, topping a Refinitiv estimate of 40 cents. HPE also raised its full-year earnings guidance. CEO Antonio Neri said the company “improved both gross and operating margins.”
Syneos Health — Shares of the biopharmaceutical solutions company gained 6.2% after announcing the Securities and Exchange Commission concluded an investigation into Syneos’ accounting policies and internal controls and will not recommend enforcement action against the company.
Fitbit — Fitbit shares gained around 5% after the fitness wearables maker unveiled the Versa 2, a smartwatch designed to compete with the Apple Watch.
—CNBC’s Elizabeth Myong and Jesse Pound contributed to this report.