Stock on the Move - March 6

Stocks Rise on Heavy Volumn:

• Avanex Corp. (AVNX): shares of Fremont, California based fiber optic products maker soared 18.57% or 39 cents to new 52 weeks high of $2.49 per share following new product announcement last week. The stock was the fourth leading gainer on Nasdaq today with 25.6 million shares traded, about five times average volumn.
• Research In Motion Ltd. (RIMM): shares of BlackBerry maker surged $10.84 or 15.07% to $82.76 on company's decision to settle patent dispute with NTP Inc. The stock was the twelveth most traded on Nasdaq with 31 million shares.

Stocks Drop on Heavy Volumn:

• Redback Networks Inc. (RBAK): shares of the San Jose, California based telecommunications equipment maker plunged 15.4% or $3.35 per share to $18.4 on speculation that the AT&T's acquisition of BellSouth may hurt the company as AT&T uses network equipment from Alcatel. The stock was the third leading decliner on Nasdaq today with 10.5 million shares traded.
• Tellabs Inc. (TLAB): the AT&T - BellSouth deal also hurt one other BellSouth's equipment supplier beside Redback Networks as shares of Tellabs tumbled 13.19% to $13.03 with 22 million shares exchanged hands.