Stocks On The Move - May 23

Stocks Rise on Heavy Volumn:

• Pacific Ethanol Inc. (PEIX): after dropping 13.53% in the previous trading session, shares of Fresno, CA based renewable fuels maker bounced back 15.92% or $4.07 to $29.64 per share on broad rally of ethanol related companies as price of oil soared to $72 per barrel, filling all the losses in the previous session. The stock was the sixth leading gainer on Nasdaq today with record volumn of 10.7 million shares traded or more than three times average volumn.
• Fargo Electronics Inc.(FRGO): shares of Eden Prarie, Minnesota based maker of desktop systems that print identity card jumped 52.25% or $8.48 to new 52 weeks high of $24.71 per share after the company agreed to be bought by HID Global Corp. for $326.1 million or $25.5 per share. The stock was the biggest winner among Nasdaq, AMEX and NYSE today with 5.1 million shares exchanged hands or 50 times average volumn.

Stocks Drop on Heavy Volumn:

• Palm Inc. (PALM): shares of Sunnyvale, CA based PDA and related software maker tumbled 8.35% or $1.65 to $18.11 per share on competition concern after rival Motorola Inc. (MOT) introduced smartphone. The stock was the sixteenth leading decliner on Nasdaq today with 8.6 million shares traded or more than twice of average volumn.
• Trident Microsystems Inc. (TRID): shares of Sunnyvale, CA based graphic chips maker dropped for the second consecutive session with another 8.62% or $2.05 loss following the 12.95% or $3.54 decline yesterday. After the company's audit committee began conducting review on stock options granted to executives between 2000 and 2004, today the company also received inquiries from SEC regarding the executives stock option grants. The stock was again the fourteenth leading decliner on Nasdaq today with 4.8 million shares traded, half of the trading volumn in the previous session.