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Top Midday Decliners

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Abivax (ABVX) faces an increasing risk of a black box warning for obefazimod due to malignancies reported from a recent trial, Wedbush Securities said in a note.

Shares sank 42% following an increase in intraday trading volume to over 14 million from a daily average of about 1.1 million.

Fulcrum Therapeutics (FULC) shares slumped 52% amid heavy trading after multiple analysts downgraded the stock and sharply lowered their price targets.

Intraday trading volume soared to more than 23.3 million shares from a daily average of about 910,000.

Goldman Sachs downgraded Intuit (INTU) to sell from neutral while adjusting its price target to $276 from $519.

Shares dropped over 8%, with intraday trading volume rising to more than 5.1 million versus the stock's daily average of about 4.12 million.

Price: $74.19, Change: $-55.50, Percent Change: -42.79%

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Wire

Update: Rezolute Shares Rise After Participants Meet Responder Criterion in Phase 3 Tumor Hyperinsulinism Trial

(Updates with the latest stock move in the headline and in the first paragraph.)Rezolute (RZLT) shares rose about 16% in Tuesday afternoon trading after the company said that six of eight participants enrolled in a phase 3 trial of ersodetug in uncontrolled hypoglycemia caused by tumor hyperinsulinism have already met the responder criterion for the study's primary endpoint.The primary endpoint of the study, which aims to enroll 16 patients with insulinoma or non-islet cell tumors, is the number of participants achieving at least a 50% reduction from baseline in intravenous glucose requirements within the 8-week pivotal treatment phase, the company said.Rezolute said ersodetug has been well-tolerated in the pivotal and extension phases of the study, with no drug-related adverse events or other safety findings reported to date.Topline results for the fully enrolled open-label phase 3 study are expected in H2, Rezolute said.Price: $4.18, Change: $+0.57, Percent Change: +15.65%

$RZLT
Wire

Top Midday Gainers

Marvell Technology (MRVL) shares rose 29% after multiple news outlets reported Nvidia (NVDA) Chief Executive Officer Jensen Huang called the chipmaker the next "trillion-dollar company."More than 76.2 million shares traded intraday, compared with a daily average of about 27.6 million.Hewlett Packard Enterprise (HPE) reported fiscal Q2 earnings ahead of analysts' forecasts late Monday.Shares jumped 16%, with intraday trading volume rising to over 115.4 million from a daily average of roughly 20.2 million.Victoria's Secret (VSXY) raised its full-year sales and earnings guidance. The shares began trading under the ticker "VSXY" on the New York Stock Exchange on Tuesday. It previously traded under "VSCO".Shares soared 48%, with over 6 million shares traded.Price: $283.35, Change: $+63.92, Percent Change: +29.13%

$HPE$MRVL$VSXY
Wire

OpenAI Adds ZoomInfo to Codex for Work as a Sales Intelligence App

Microsoft-backed (MSFT) OpenAI said Tuesday that ZoomInfo Technologies (GTM) is now natively available inside OpenAI Codex for Work as a business-to-business go-to-market intelligence app.The integration brings ZoomInfo's verified company intelligence and contact data into Codex, the company said. Users can ask Codex to identify target accounts, build prospect lists, or analyze companies, and Codex will run the matching ZoomInfo skill and return a verified answer, the company said.Price: $3.34, Change: $-0.49, Percent Change: -12.70%

$GTM$MSFT