Stock on the Move - January 3

Stocks Rise on Heavy Volumn:

• Sonus Networks Inc (SONS): shares of Chelmsford, MA based Voice-Over-IP(VOIP) equipment maker were up $0.39 or 10.48% to $4.11 with 10 million shares changing hands. There's no news pushing the stock higher but the stock had bouned back from 52 week low since mid December.
• Engelhard Corp. (EC): stock price of Iselin, NJ based industrial materials technologies provider surged $7.85 or $26% to $38 on hostile bid offer from BASF AG, one pf the world's largest chemical companies. The stock was nineth on volumn traded with 20 million shares and first on price gain in NYSE.

Stock Drop on Heavy Volumn:

• Pilgrim's Pride Corp. (PPC): shares of Pittsburg, TX based poultry products producer in US, Mexico and Puerto Rico plunged $7.8 or 23.52% to $25.36 on reduced earning outlook and job cuts due to weak sales in Mexico.
• Syneron Medical Ltd. (ELOS): the Israel based medical equipment maker posts higher fourth quarter revenue but the stock was still down $3.29 or 10.36% as sales still fall short of analysts estimate. The stock has been down for the fifth consecutive session dropping all the way from $42.39 per share to $28.46 per share today.