Stock On The Move - March 23

Stocks Rise on Heavy Volumn:

• Spherix Inc. (SPEX): shares of Beltsville, MD based biotechnology firm soared 69.23% or $1.44 to $3.52 per share as the company has entered an agreement for Phase 3 clinical trial of its diabetes drug. The stock was the leading gainer on Nasdaq today with 8.4 million shares traded, about 24 times of average volumn.
• Level 3 Communications Inc.(LVLT): the Broomfield, CO based voice-over-IP(VoIP) component service provider was the heaviest traded on Nasdaq today with 106 million shares traded after an analyst upgraded his rating on the company seeing an improving operating environment. The shares surged 16.57% or 57 cents to $4.01 reaching new 52 weeks high.

Stocks Drop on Heavy Volumn:

• YRC Worldwide Inc. (YRCW): shares of Overland Park, Kansas based transportation service provider plunged 14.86% or $6.73 to new 52 weeks low of $38.56 per share after the company lowered its earning forecast for the first quarter after the market closed Wednesday. The stock was the second leading decliner on Nasdaq today with 13 million shares traded, about 11 times average volumn.
• King Pharmaceuticals Inc. (KG): shares of Bristol, TN based pharmaceutical company dropped 8.78% or $1.67 to $17.36 per share after the company announced new convertable notes offering worth $400 million on Wednesday. The stock was the second most percentage loser on NYSE today with 8.1 million shares traded.