Top Midday Decliners

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%