Stock on the Move - March 15

Stocks Rise on Heavy Volumn:

• Avanex Corp. (AVNX): shares of Fremont, California based photonic solutions company soared for another 20.07% or to new 52 weeks high of $3.23 per share follwoing the announcement of new optical network product yesterday. The stock has surged for the second consecutive session with overall gain of 40% in just two days. The after hour trading today is still strong as the stock is pushed up for another 7.43% to $3.47 per share. The stock is the sixth leading gainer on Nasdaq today with 58 million shares traded, the seventh most traded on Nasdaq.
• Movie Gallery Inc. (MOVI): the troubling video rental company becomes the second leading percentage gainer on Nasdaq today as as it explores opportunities to sublease space that may boost traffic and revenue. The stock jumps 36.87% or 80 cents to $2.97 following the announcement. For the past 52 weeks the stock has lost more than 90% of its market cap as it went from $30 per share earlier last year to as low as $1.68 per share recently.

Stocks Drop on Heavy Volumn:

• Orthologic Corp. (OLGC): shares of Tempe, Arizona biopharmaceutical company focusing on issues healing technology plungs 49.08% to new 52 weeks low of $2.64 per share on negative trial data from its synthetic peptide drug. The stock is the leading decliner on Nasdaq today with 9.2 million shares traded.