Stocks On The Move - May 17

Stocks Rise on Heavy Volumn:

• LTX Corp. (LTXX): shares of Westwood, MA based semiconductor testing company soared 22.89% or $1.33 to new 52 wees high of $7.14 per share after the company's outstanding third quarter profit, at 13 cents per share, beat Wall Street's estimates of 9 cents per share. In addition the semiconductor testing firm also issued a positive forecast for the fourth quarter. The stock was the leading percentage gainer on Nasdaq of today with 8.3 million shares traded or nine times average volumn.
• Tenet Healthcare Corp.(THC): shares of Marlborough, MA based drug maker surged 8.37% or 62 cents to $8.03 per share after the company agreed to $21 million settlement of a alleged kickbacks to doctors at Alvarado Hospital in San Diego. The stock was the third leading gainer on NYSE today with 6.67 million shares traded or twice of average volumn.

Stocks Drop on Heavy Volumn:

• GlobalTel Communications Corp. (GTE): shares Pembroke Pines, Florida based voice over ip (VoIP) service provider plunged 11.98% or 20 cents to $1.47 per share on profit taking after the company surged for almost 60% in two days from $1.07 per share at the close on Friday to $1.67 yesterday after the company reported a 24% revenue increase and reduced net loss for the first quarter on Friday. The stock was the eighth leading decliner on AMEX today with 6.7 million shares traded or four times average volumn.
• Pacific Ethanol Inc. (PEIX): shares of Fresno, CA based renewable fuels maker dropped for the third straight day by sinking another 10.34% or $3.79 to $32.86 per share on profit taking after the stock reached new 52 weeks high of $44.5 per share last Thursday. The stock is now 26% off it's high in just four trading sessions. The stock was the seventeenth leading decliner on Nasdaq today with 5.8 million shares traded, almost twice as much as average volumn.