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Top Midday Decliners

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Chemomab Therapeutics (CMMB) and Scipher Medicine have entered into an all-stock merger agreement, the companies said Wednesday.

Shares of Chemomab dropped 14% as intraday trading volume jumped to over 1.79 million from a daily average of about 75,000.

Saratoga Investment (SAR) reported a decline in fiscal Q1 net investment income per share late Tuesday, falling more than the market had anticipated.

Shares declined 13%, with intraday trading volume at over 645,000 after midday versus a daily average of about 101,000.

FuelCell Energy's (FCEL) shares slumped 11% amid heavy trading after the company said it priced an offering of about 10.7 million common shares at $21 each for gross proceeds of about $225 million.

More than 14.9 million shares of the company traded intraday compared with a daily average of about 11.3 million.

Price: $1.85, Change: $-0.92, Percent Change: -33.21%

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Qube Holdings Says Rubik Australia Deal Becomes Legally Effective; Declares Special Cash Dividend

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Update: Adairs Expects Fiscal 2026 Underlying EBIT of Up to About AU$56 Million; Shares Fall 4%

(Updates to add stock movement in the headline and the last paragraph)Adairs (ASX:ADH) expects fiscal 2026 group underlying earnings before interest and tax (EBIT) in the range of AU$53.5 million to AU$55.5 million, down 1.3% at the midpoint on fiscal 2025, according to a Wednesday Australian bourse filing.The company anticipates group sales in the range of AU$640 million to AU$641.5 million, up 3.7% at the midpoint.The company said it expects to recognize a non-cash impairment of the Focus on Furniture goodwill and brand intangible in the range of AU$62 million to AU$68 million, or AU$56 million to AU$60 million after tax, to be excluded from underlying earnings.After the impairment and other significant items, the company expects to report a statutory net loss after tax of about AU$43 million for fiscal 2026, per the filing.The company's shares fell around 4% in recent Wednesday trade.

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