Stock On The Move - March 22

Stocks Rise on Heavy Volumn:

• TransMontaigne Inc. (TMG): shares of Denver, Colorado based petroleum products distributor and supplier soared 24.26% or $1.8 to $9.22 per share on buyout offer from Morgan Stanley(MS) worth $379 million or $8.5 per share. The stock was the biggest percentage gainer on NYSE today with 6.5 million shares traded.
• Nabi Biopharmaceuticals (NABI): shares of Boca Raton, Florida based hepatitis and kidney disease drug maker surged 15.83% or 76 cents to $5.56 as the company continues development of drugs targeting gram-positive bacterial infections. The stock was the fifth leading advancer on Nasdaq with 16 million shares traded, about eight times average volumn.

Stocks Drop on Heavy Volumn:

• Generex Biotechnology Corp. (GNBT): shares of Toronto, Canada based drug delivery system maker plunged 23.77% on profit taking after the stock jumped 27% in the previous trading session on bird flu fear. The stock was the leading decliner on Nasdaq today with 85 million shares exchanged hands, the third heaviest traded on Nasdaq.
• Sigma Designs Inc. (SIGM): shares of Milpitas, CA based digital media processor maker lost 14.62% or $2.32 to $13.55 per share on decling in gross margin due to competition. The stock was the second leading decliner on Nasdaq today with 5.3 million shares traded.