UBS downgraded Acadia Pharmaceuticals' (ACAD) shares one notch to neutral and set a $23 price target.

Acadia shares fell 4.7% amid intraday trading volume of over 903,000, versus a daily average of about 1.8 million.

Applied Materials (AMAT) said Monday it opened its new $5 billion semiconductor research and development center at its Sunnyvale, California, campus to accelerate the development and commercialization of chipmaking technologies for AI.

The company expects revenue to double over the next few years without a proportional increase in its workforce as it expands its use of artificial intelligence, Bloomberg reported Monday.

Shares slumped 8%, with intraday trading volume climbing to over 6.2 million, versus a daily average of about 6.8 million.

Syndax Pharmaceuticals (SNDX) said Monday its phase 2 trial of axatilimab in idiopathic pulmonary fibrosis failed to meet its primary endpoint of annualized forced vital capacity decline, and the company does not plan further development for the indication.

Shares retreated 17% amid intraday trading volume of over 4.7 million, up from a daily average of about 1.55 million.

Price: 18.50, Change: -0.91, Percent Change: -4.71