Stocks On The Move - May 30

Stocks Rise on Heavy Volumn:

• Kinder Morgan Inc.(KMI): shares of Houston, Texas based energy transportation and service provider surged 18.84% or $15.9 to near 52 weeks high of $100.31 per share on buyout offer from a group of investors. The stock was the thirteenth biggest winner on NYSE today with 14 million shares exchanged hands, about 20 times average volumn.
• Tribune Co.(TRB): shares of Chicago, IL based newspaper publishing company jumped 7.21% or $2.01 to $29.9 per share on settled lawsuit with SEC and stock buyback program. The stock was the fifth leading gainer on NYSE today with 9.7 million shares traded, or five times average volumn.

Stock Drop on Heavy Volumn:

• Vivo Participacoes S.A. (VIV): shares of Sao Paulo, Brazil based telecommunications services company plunged 17.53% or 54 cents to $2.54 per share on broad decline of Brazilian companies due to inflation and interest rates worries. The stock was the biggest loser on NYSE today with 7 million shares traded, or twice of average volumn.
• Covad Communications Group Inc. (DVW): shares of San Jose, CA based VoIP product and service company tumbled 11.5% or 26 cents to $2 per share on negative outlook for the year. The communication equipment maker is forcasting net loss of $39 million compare to analysts estimate of $32.1 million. The stock was the fourth leading decliner on AMEX today with 8.56 million shares traded or more than twice of average volumn.