Top Midday Decliners

MT Newswires Live10-15

Zapata Computing Holdings (ZPTA) shares slumped nearly 71% amid heavy trading after the company said in a filing late Friday that its board approved the cessation of operations because of insolvency.

More than 40.2 million shares traded intraday compared with a daily average of about 1.6 million.

Vicinity Motor (VEV) said late Friday that it wasn't successful in renegotiating terms with the Royal Bank of Canada or Export Development Canada.

As of the end of Friday, the company said it "did not receive any definitive information for how the creditors will proceed" toward receivership enforcement, impeding its ability to continue to operate.

Further, the company said if it isn't able to file its interim filings for the six months ended June 30, 2024, by Oct. 18, the British Columbia Securities Commission will issue a broad failure to file cease trade order and shares of the company will not be permitted to be traded in Canada.

Shares of Vicinity slumped 36.5%, with intraday trading volume at over 5.9 million compared with a daily average of about 7.7 million.

Morgan Stanley downgraded Caterpillar (CAT) to underweight from an equal-weight stock rating while adjusting its price target to $332 from $349.

Shares of Caterpillar slipped 1.8%, with intraday trading volume at over 2.1 million versus a daily average of about 2.56 million.

Price: 0.08, Change: -0.19, Percent Change: -70.88

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