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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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Update: Northern Star Resources Should Launch Strategic Review, Explore Sale, Activist Investor Elliott Says; Shares Up 9%

(Updates to add stock movement in the headline and last paragraph)Northern Star Resources (ASX:NST) should conduct a strategic review that includes a potential sale, alongside a search for a new CEO, to identify opportunities for operational improvements, shareholder Elliott Investment Management said Monday.Elliott disclosed a stake of over AU$1 billion in Northern Star Resources, saying it wants to work with the company to maximize shareholder value."Northern Star's recent pattern of operational missteps, cost overruns and inconsistent strategic direction demands urgent action," Elliott said, adding that the company has underperformed its potential despite holding world-class gold assets.The activist investor also urged the company to supplement its board with "fresh perspectives" to help guide the review and subsequent steps.Elliott further alleged that Northern Star has "deeply inadequate disclosures compared to global senior peers." The company is likely to draw "significant strategic interest" if it explores a sale, Elliott said.Northern Star Resources did not immediately reply to a request for comment from.The company's shares rose around 9% in recent Tuesday trade.

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Wire

Xometry Plans Offering of Class A Shares

Xometry (XMTR) said Monday it has started an underwritten public offering of $225 million of its Class A shares, subject to market conditions.Underwriters will be given a 30-day option to buy up to an additional $33.75 million of shares, the company said.Net proceeds from the planned offering are for working capital and general corporate purposes, Xometry said.Xometry shares were down past 9% in after-hours activity.

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LXP Industrial Trust Revises 2026 Adjusted FFO Guidance

LXP Industrial Trust (LXP) said late Monday it now expects 2026 adjusted funds from operations per diluted share of $3.30 to $3.40 from $3.22 to $3.37 earlier.Analysts polled by FactSet expected $3.28.In May, the company acquired a 37-acre infill industrial redevelopment site in the South Airport submarket of Phoenix for $103 million, according to a statement.The site produces annual rent of $16.1 million, with 2% annual rent hikes, the company said.

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