Stocks On The Move - May 3

Stocks Rise on Heavy Volumn:

• Advanced Digital Information Corp. (ADIC): shares of Redmond, Washington based data storage tape maker skyrocketted 43.53% or $3.6 to new 52 weeks high of $11.87 per share after data storage company Quantum Corp. annouced that it will buy the company for $770 million or about $12.25 per share. The stock was the second best performer on Nasdaq today with record volumn 20.5 million shares traded, about 55 times average volumn.
• Symbol Technologies Inc. (SBL): shares of Holtsville, NY based scanner and mobile computer maker surged 15.42% or $1.65 to $12.3 per share after the company posted strong first quarter result with 33% quarter profit increase. The stock was the third leading gainer on NYSE today with 9.2 million shares exchanged hands, about four times of average volumn.

Stocks Drop on Heavy Volumn:

• NPS Pharmaceuticals Inc. (NPSP): shares of Salt Lake City, Utah based osteoporosis drug maker dove 39.22% or $3.22 to new 52 weeks low of $4.99 per share on analysts downgrads due to uncertainties of the FDA approval of the company's osteoporosis drug. The stock was the biggest loser on Nasdaq today with 10.7 million shares traded, about 10 times average volumn.
• Plantronics Inc. (PLT): shares of Santa Cruz, CA based lightweight communications headsets maker plunged 29.42% or $10.78 to new 52 weeks low of $25.85 per share on disappointing fourth quarter result and negative earning forecast. The stock was the leading decliner on NYSE today with 7.5 million shares traded or 17 times average volumn.