Stock on the Move - March 8

Stocks Rise on Heavy Volumn:

• Lexar Media Inc. (LEXR): shares of Lexar Media, the Fremont, CA based flash memory card maker jumped 24.54% or $1.74 to $8.83 per share on buy-out offer from Micron Technology(MU) for $688 million worth of stock. About 72 million shares have exchanged hands making the stock the fourth heaviest traded and also the second leading gainer on Nasdaq today.
• Elan Corp. plc (ELN): the possible return of multiple slerosis drug Tysabri helped boosting shares Ireland based drug maker. The stock ended today up 24.49% or $3.11 to $15.81 with 20 million shares traded. The stock was the leading gainer on NYSE today.

Stocks Drop on Heavy Volumn:

• Distributed Energy Systems Corp. (DESC): shares of Wallingford, CT based fuel cell maker plunged 30.41% to $6.59 on weaker than expected first quarter outlook as well as analysts downgrade. The stock was the leading decliner on Nasdaq today with 8.5 million shares exchanged hands, close to ten times of average volumn.
• Movie Gallery Inc. (MOVI): shares of the No. 2 U.S. movie rental chain dipped 20.58% to new 52 weeks low of $2.39 as bankruptcy risk increased after the company met with banks to renegotiate credit agreement. The stock was the second leading decliner on Nasdaq today with 7 million shares traded.