Stocks On The Move - May 31

Stocks Rise on Heavy Volumn:

• Ivanhoe Energy Inc.(IVAN): shares of Vancouver, Canada based oil and gas company jumped 20.09% or 46 cents to $2.75 per share on new analyst upgrade from Hold to Buy. The stock was the third leading gainer on Nasdaq today with 16.6 million shares exchanged hands, about five times average volumn.
• NRG Energy Inc.(NRG): shares of Princeton, NJ based power generation company surged 15.67% or $6.74 to new 52 weeks high of after the company received takeover offer of $8 billion or $57.16 per share from Mirant Corp. The company rejected the offer seeing it undervalued. The stock was the biggest winner on NYSE today with 18.7 million shares traded, leading gainer on NYSE today with 9.7 million shares traded, or thirteen times average volumn.

Stock Drop on Heavy Volumn:

• Cardiome Pharma Corp. (CRME): shares of Vancouver, Canada based cardiovascular diseases drug maker plunged 19.95% or $2.25 to $9,03 per share on FDA's rejection of the drug maker's marketing application field by it's partner. The stock was the fourth biggest loser on NYSE today with 11.6 million shares traded, or 43 times of average volumn.
• ADC Telecommunications Inc. (ADCT): shares of Eden Prairie, MN based network equipment maker plummeted 19.93% or $4.46 to $17.92 per share as industry observers see the company's offer to buy Andrew Corp. for $.6 billion too costly. The stock was the fifth leading decliner and the thirteenth heaviest traded on Nasdaq today with 25.2 million shares traded.