Stock On The Move - April 4

Stocks Rise on Heavy Volumn:

• Biomet Inc. (BMET): shares of the Warsaw, IN based artificial joint maker surged 9.72% or $3.38 to $38.16 per share as the company hired Morgan Stanley to sell the company. About seven times average volumn of 14 million shares have traded as the stock is now back to near 52 week highf.
• Tenet Healthcare Corp.(THC): shares of Dallas, Texas based general hospitals operator rose 8.37% or 61 cents to $7.9 per share as the federal judge declared a second mistrial against the hospital on paying illegal kickbacks to recruited doctors. All the gains came in the last hour as the stock was traded below the previous close for the most of the session until the last hour. About three times average volumn of 9.3 million shares have traded.

Stocks Drop on Heavy Volumn:

• Powerwave Technologies Inc. (PWAV): shares of Santa Ana, CA based wireless network equipment maker plunged 21.69% or $2.88 to $10.4 per share on analyst downgrade after the company lowered first-quarter outlook. The stock was the third leading decliner on Nasdaq today with 42 million shares exchanged hands, also the seven most heaviest traded on Nasdaq. The stock rose 1.35% or 14 cents to $10.54 in the afterhour trading.
• Novavax Inc. (NVAX): shares of Malvern, PA based bird flu vaccine maker tumbled 18.64% or $1.42 to $6.2 on fear of increasing compeition. The stock was the fifth leading decliner on Nasdaq today with 17.8 million shares traded, about three times average volumn.