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Top Midday Decliners

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Pentair (PNR) reported preliminary Q2 results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.

Pentair CFO Nick Brazis' unexpected departure, just four months after his appointment, adds near-term skepticism on the stock, RBC said in a note. RBC downgraded the stock to sector perform from outperform.

Shares slumped 14%, with intraday trading volume rising to more than 8.5 million from a daily average of about 2.3 million.

Elevance Health (ELV) reported sequential and annual declines in membership for Q2, although the health insurer lifted its full-year earnings outlook and recorded an unexpected year-over-year revenue increase.

Shares declined 8.7% as intraday trading volume jumped to over 2.4 million from a daily average of about 1.7 million.

Evercore ISI cut its Progressive's (PGR) price target to $230 from $240 following the release of the company's Q2 results.

Shares declined 9%, with intraday trading volume of over 3.8 million against a daily average of roughly 3.1 million.

Price: $64.49, Change: $-11.19, Percent Change: -14.79%

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Copa Holdings Reports Higher June Passenger Capacity, Traffic

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Phoenix Education Partners Fiscal Q3 Adjusted Earnings Fall, Revenue Rises; Shares Drop After Hours

Phoenix Education Partners (PXED) reported fiscal Q3 adjusted earnings late Tuesday of $1.43 per diluted share, down from $1.57 a year earlier.Analysts polled by FactSet expected $1.32.Revenue in the three months ended May 31 rose to $271.8 million from $271.7 million a year earlier. Analysts expected $271.2 million.Phoenix expects full-year net revenue of $1.02 billion to $1.025 billion. Analysts expect $1.026 billion.The company's shares fell 11% in after-hours trading.

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