Stock On The Move - April 7

Stocks Rise on Heavy Volumn:

• O2Diesel Corp. (OTD): one of the most talked about stock of the daytraders today is O2Diesel, a Newark, DE based company which develops clean fuel buring technology. The stock today went skyrocketted 89.26% or $1.33 to new 52 weeks high $2.82 on new contract worth $0.8 million with the U.S. Department of Defense to develop cleaner burning alternative diesel fuel. The stock is the leading gainer among all the US stock exchanges today with 10 million shares traded. about 30 times average volumn.

Stocks Drop on Heavy Volumn:

• SafeNet Inc. (SFNT): the Belcamp, MD based hardware and software information security service provider plunged 19.29% or $5.01 to new 52 weeks low of $20.96 per share after the company's earning warning, resignation of the chief financial officer and pull-out of acquisition of nCipher. The stock is the third leading decliner on Nasdaq today with 6.2 million shares exchanged hands, about 12 times average volumn.
• Extreme Networks Inc. (EXTR): shares of Santa Clara, CA based network switch maker lost 6.68% or 34 cents to $4.75 per share after the company cut its third-quarter revenue estimates due to weak sales in the United States and Japan. The stock is the fifteenth of heaviest traded on Nasdaq today with 18.9 shares traded.