Top Midday Decliners
Broadcom's (AVGO) decision not to upgrade its 2027 artificial intelligence guidance apparently disappointed investors, especially as the chip designer reported strong semiconductor demand, UBS Securities said in a client note sent Thursday.Shares dropped 13%, with intraday trading volume rising to more than 62.1 million from the stock's daily average of about 24.4 million.ADC Therapeutics (ADCT) shares sank 55% amid heavy trading after RBC downgraded the company's stock rating and lowered its price target to $2 from $6, following new late-stage trial data for the company's lymphoma therapy Zynlonta.More than 9.1 million shares of the company traded intraday compared with a daily average of about 990,000.Xos (XOS) has announced a registered direct offering of about 1.09 million common shares at $5.50 per share, for gross proceeds of about $6 million, the company said Thursday.Shares sank 26% following an increase in intraday trading volume to over 10.8 million from a daily average of about 2.24 million.Price: $417.61, Change: $-61.62, Percent Change: -12.86%
