Stock On the Move

Thursday, March 02, 2006

Stock on the Move - March 2

Stocks Rise on Heavy Volumn:

  • Matrixone Inc. (MONE): shares of Westford, MA based product lifecycle management solution and service provider soared 18.8% or $1.13 to new 52 weeks high of $7.14 per share as the company is to be acquired by Dassault System(DASTY) for $408 million. More than 30 times average volumn of 8.7 million shares have traded after the announcement.
  • JDS Uniphase (JDSU): the San Jose, CA based JDS Uniphase bacame the heaviest traded on Nasdaq today with 141.8 million shares traded. Shares of the fiber optic network equipment maker surged 10.09% or 32 cents to $3.49 as another network equipment maker Ciena(CIEN) rose 6.67% after posting narrower first quarter loss.

Stocks Drop on Heavy Volumn:

  • Quanta Capital Holdings Ltd. (QNTA): massive selling of the Hamilton, HM based Quanta Capital Holding send shares down 40.17% or to new 52 weeks low of $2.83. The insurance company is expecting net loss for the fourth quarter to be in the range of $40 million to $45 million on soaring expenses from Hurricanes Katrina, Rita and Wilma. About 13 times average volumn of 6.7 million shares have traded.
  • Nastech Pharmaceutical Co. Inc. (NSTK): shares of Bothell, Washington based pharmaceutical company plunged 37.32% or $8.59 to $14.43 per share as the company's nasal spray was rejected by Merck(MRK) on disappointing test result. The stock is the second biggest loser on Nasdaq while Quanta Capital is the leading loser with 40% loss

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