FINWIRES · TerminalLIVE
FINWIRES

Top Midday Decliners

By

-- Cogent Communications (CCOI) shares sank 35% amid heavy trading after the company reported on Monday lower Q1 service revenue that was below analysts' estimates.

Shares sank 35% following a surge in intraday trading volume to over 5 million from a daily average of about 1.2 million.

United Parcel Service (UPS) and FedEx (FDX) shares declined after Amazon.com (AMZN) announced the launch of Amazon Supply Chain Services, opening its logistics network to businesses.

UPS shares slumped 10% as intraday trading volume catapulted to more than 12.9 million from a daily average of about 6.10 million.

Norwegian Cruise Line (NCLH) reported Monday Q2 adjusted earnings outlook below analysts' forecasts and also cut its 2026 adjusted EPS guidance.

Shares dropped nearly 9%, with intraday trading volume at over 41.3 million, versus a daily average of about 22.4 million.

Price: $15.28, Change: $-7.88, Percent Change: -34.02%

Related Articles

Sectors

Sector Update: Tech

Tech stocks were mixed late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) increasing 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) decreasing 0.4%.The Philadelphia Semiconductor index decreased 0.5%.In corporate news, Apple (AAPL) is planning to introduce a new feature for its next iPhone software update that will allow users to develop and personalize their own digital tickets and gift cards in the Wallet app, Bloomberg reported. The pass-building feature for iOS 27 Wallet is expected to address the issue of many services still not offering passes compatible with the Wallet platform, the report said. Apple shares were down 1.1%.

$AAPL
Research

Research Alert: CFRA Maintains Sell Opinion On Shares Of Sirius Xm Holdings Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month target price by $5 to $22, applying an EV/revenue multiple of 2.0x to our 2026 estimate, a discount to its three-year historical average multiple of 2.5x. We trim our 2026 EPS estimate by $0.01 to $3.09 and raise 2027's by $0.14 to $3.45. There was mention of a softer auto sales environment, which created headwinds for trial starts and impacted subscriber acquisition, particularly following last year's tariff-driven pull forward in vehicle sales. Conversion rates for self-pay subscribers saw slight declines, especially as younger car purchasers entered the trial funnel, and used car conversion rates remained lower than new car rates. Subscriber trends are expected to be modestly lower Y/Y, with management cautioning about ongoing pressures and declining to change subscriber guidance for the year due to uncertainties in auto sales and companion subscription take rates.

$SIRI
Treasury

US Treasury Lifts Q2 Borrowing Estimate

The US Treasury said Monday that it expects to borrow $189 billion in Q2, a larger borrowing estimate than the $109 billion it announced in its previous statement.The reason for the increase in the borrowing estimate was lower projected net cash flows that were partially offset by a higher-than-expected cash balance at the start of the quarter. The Treasury still assumes a $900 billion end-of-quarter balance.Borrowing is seen at $671 billion in Q3, with an estimated cash balance of $950 billion at the end of September.The Treasury borrowed $577 billion in Q1, ending March with an $893 billion cash balance at the end of the quarter. The Treasury had previously expected to borrow $574 billion with an end-of-March cash balance of $850 billion.The slightly higher amount of Q1 borrowing was due to a higher-than-assumed end-of-quarter cash balance that were partially offset by higher net cash flows, the Treasury said.