Stock on the Move - December 15

Stocks Rising on Heavy Volumn:

• Abgenix Inc. (ABGX) $21.68 +47.99% 61,727,799 : stock price of Fremont, CA based biopharmaceutical company on cancer treatment has surged 47% today on announcement of merger agreement in which Amgen (AMGN) will pay $22.5 per share to Abgenix. The announcement also help Amgen to close at $80.44 today, up $3.66 or 4.77% from yesterday's close. Abgenix ends the day around $21.68 per share, almost a dollar short of merger price. The stock has gained more than 200% from the 52 weeks low of $6.45 per share in April this year. The stock is the top one price gainer(%) on Nasdaq and fifth highest in volumn traded.
• Spherix Inc. (SPEX) $3.91 +22.19% 6,459,236 : Biotech firm Spherix saw its share up more than 22% to $3.91 per share following Eupopean approval for its sweetener in variety of foods. The suger substitute has also been approved in United States, South Korea, Australia and New Zealand. The stock which was still trading in the one dollar range two weeks ago began the rally on December 6 on FDA approval of late stage trial of its diabetes drug. The stock had surged to as much as $5.85 per share during the rally. The stock is the sixth biggest price gainer on Nasdaq.

Stocks Dropping in Heavy Volumn:

• KOS Pharmaceuticals Inc. (KOSP) $50.86 -27.27% 12,884,508 : shares of New Jersey based pharmaceutical company KOS plunged 27% as rival drug maker Merck announcing development of cholesterol treatment drug which will direct compete with KOS. Shares of KOS has dropped below both the 50 day and 200 day moving average, a bad sign for the stock.
• Activision Inc. (ATVI) $13.15 -8.04% 28,999,080 : shares of Santa Monica, CA based interactive entertainment software maker (including famous online game such as Quake) dropped 8% today on sales and earning warning for third and fourth quarters. The stock was downgraded by Bear Stearns in November 22 after the stock has hit 52 week high of $18.03 per share. The stock was the nineth heaviest traded on Nasdaq.