Stock on the Move - December 14

Stock rising on heavy volumn:

• 8x8 Inc (EGHT) 2.52 +18% 12,707.237: shares of the VOIP(Voice over Internet Protocal) was up as announcement of mega contract from Bellsouth on Friday still fueled the upward movement. The stock was trading at $1.2 before the announcement and sky-rocketted as much as $3 in the after hour trade on Friday.
• Arena Pharmaceutical (ARNA) 13.48 +18% 6,995,878: Arena Pharmaceutical shares up almost 20% as the company report postive results from clinical trial of the company's obesity treatment. The stock was trading around $5 in April this year and since the price has took off and hit the 52 week high today at $13.48 per share.

Stock dropping on heavy volumn:

• SciClone Pharmaceutical (SCLN) 2.31 -40% 9,301,744: Contrary to Arena Pharmaceutical's successful drug trial, SciClone's poor trial data send the stock down 40% as the hepatitis C treament proved to be ineffective. The stock is off its 52 week hight of $8 per share in August this year.
• Matek Biosciences (MATK) 23.87 -18.39% 7,917,537: maker of nutritional oils used in baby formula saw its stock price plunge 18% as current quarter guidance fell short of expectation. The stock has dropped more than 60% from its high of $70 per share earlier this year in March.