Top Midday Decliners
China Pharma (CPHI) priced its registered direct offering of 2.5 million common shares at $2 each, targeting gross proceeds of $5 million, it said Wednesday.Shares sank 77%, with intraday trading volume surging to over 12.3 million from a daily average of roughly 3.88 million.GE Vernova (GEV) reported Q2 earnings Wednesday of $2.47 per diluted share, up from $1.86 a year earlier and below the FactSet consensus analyst estimate of $3.18.Meanwhile, GE Vernova is preparing contracts to help strengthen Venezuela's power grid and would be close to signing them had the country not suffered a recent earthquake, Bloomberg reported Wednesday, citing an interview with Chief Executive Officer Scott Strazik.Shares declined 8% as intraday trading volume jumped to over 3.27 million from the stock's daily average of about 2.86 million.Axe Compute (AGPU) reported more than $1.3 billion in new customer contracts across the US and Europe, propelling the company beyond its 2026 goal of $1 billion in signed contracts, it said Wednesday. Revenue is expected to begin in late Q4, with prepayments due in Q3, boosting annual recurring revenue to over $384 million upon deployment.Still, shares slumped 26% as intraday trading volume soared to over 2.82 million from a daily average of about 416,000.Price: $1.84, Change: $-6.27, Percent Change: -77.35%
