Stock on the Move - February 24
Stocks Rise on Heavy Volumn:
- Netease.com Inc. (NTES): shares of Chinese online game operator surged 14.04% to $86.1 on upgrades from three institutions following the jump in net earning in the fourth quarter despite growing competition. About six times normal volumn of 5.7 million shares have traded.
- Research In Motion Inc. (RIMM): despite risk that the sales of BlackBerry may be blocked, shares of Canada based BlackBerry maker still rose 6.5% to $74.05 as the court hearing ended with no decision on Friday.
Stocks Drop on Heavy Volumn:
- Dana Corp. (DCN): shares of Toledo, OH based auto parts maker plummet 52.06% to record low of $1.51 per share despite analysts upgrades as the financially struggling company has hired restruturing company . Record volumn of 71 million shares have exchanged hands, the heaviest traded on NYSE.
- Merge Healthcare (MRGE): shares of Milwaukee, WI based medical software and services provider plunged 16.33% or $4 to $20.5 per share amid worries as the company delays fourth quarter result. 17 million shares have traded, about 22 times normal volumn.
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