Stocks on the Move - February 15

Stocks Rise on Heavy Volumn:

• Genta Inc. (GNTA): the Berkeley Heights, NJ based biopharmaceutical firm on Wednesday annouced positive study results on its caner treatment drug. The positive news helped lifting the stock 8.88% or 23 cents to $2.82 per share as 15 million shares exchanged hands. Before the announcement the stock had been on consecutive losing sessions after hitting 52 week high of $3.48 per share on February 8 last week .
• ONEOK Inc. (OKE): shares of the Tulsa, Oklahoma based oil and natural gas distributor in the mid states of United States surged 13.55% or $3.6 to $30.16 as it plans to sell gas liquids, pipeline and storage businesses to Northern Border Partners(NBP) for $3 billion. Shares of Northern Border Partners also gained 11.98% to $49.15 after the announcement.

Stocks Drop on Heavy Volumn

• Blue Coat Systems Inc. (BCSI): disappointing third quarter result from the Sunnyvale, CA based network equipment maker triggerred sell-off which send the stock down $5.43 or 22.16% to $19.07 per share. The stock is now trading less than half of its closing price of $40.33 per share earlier this month.
• Outback Steakhouse Inc. (OSI): shares of one of the nations largest steakhouse chain dropped 8.69% or $3.88 to $40.78 per share on 10 times average volumn of 10 million shares as the company posted weaker than expected fourth quarter and 2006 forecast.