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FINWIRES

Top Midday Gainers

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-- Avalyn Pharma (AVLN), a clinical-stage drugmaker, said late Wednesday it has priced its upsized initial public offering of about 16.7 million shares at $18.00 apiece, targeting gross proceeds of about $300 million.

Shares soared in their trading debut on Nasdaq, up over 50% at about $27.44 in afternoon trading, with intraday trading volume of over 3.65 million.

Everspin Technologies (MRAM) reported Thursday an agreement with a US prime contractor to provide Toggle MRAM process technology and engineering services for United States Defense Industrial Base customers. The agreement is valued at $40.0 million and will run over two-and-a-half years.

Shares surged 37% as intraday trading volume soared to over 12.6 million from a daily average of about 533,000.

Viavi Solutions (VIAV) jumped 15% after its fiscal Q3 results and fiscal Q4 guidance exceeded market expectations.

More than 15.1 million shares traded intraday, compared with a daily average of about 5.87 million.

Price: $27.00, Change: $+9.00, Percent Change: +50.00%

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Update: Check Point Software Shares Decline After Revenue Guidance Cut, Piper Sandler Downgrade

(Updates with stock price move in headline and first paragraph, full-year revenue guidance and analyst downgrade in the sixth and seventh paragraphs.)Check Point Software Technologies (CHKP) shares were down more than 19% in Thursday afternoon trading after the company cut its full-year revenue outlook and Piper Sandler downgraded the stock.The company reported Q1 non-GAAP earnings Thursday of $2.50 per diluted share, up from $2.21 a year earlier.Analysts polled by FactSet expected $2.40.Revenue for the quarter ended March 31 was $668.4 million, up from $637.8 million a year earlier.Analysts surveyed by FactSet expected $672.7 million.The company lowered its 2026 revenue forecast to between $2.77 billion and $2.85 billion from $2.83 billion to $2.95 billion. Analysts expected $2.88 billion.Piper Sandler downgraded the stock to neutral from overweight.Price: $112.94, Change: $-27.02, Percent Change: -19.31%

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Australia

Sector Update: Tech

Tech stocks rose late Thursday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) gaining 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing 4.1%.The Philadelphia Semiconductor index climbed 2%.In corporate news, Qualcomm's (QCOM) shares jumped 15% a day after the company posted better-than-expected fiscal Q2 adjusted earnings and revenue.

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Adamas Trust Shares Rise After Posting Better-Than-Expected Q1 Earnings

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