Stocks On The Move - May 4

Stocks Rise on Heavy Volumn:

• Ariad Pharmaceuticals Inc. (ARIA): shares of Cambridge, MA cancer drug maker soared 26.17% or $1.45 to $6.99 per share after company won patent-infringement lawsuit against Eli Lily. The stock was the second best performer on Nasdaq today with 12.6 million shares traded, about 26 times average volumn.
• Expeditors International of Washington Inc. (EXPD): shares of Seattle, WA based logistics services provider surged 18.28% or $16.04 to new 52 weeks high of $103.80 per share after the company reported a 70 percent jump in the first quarter profit from $30.9 million in the same quarter of 2005 to $52.4 million. The stock was the tenth leading gainer on Nasdaq today with 5.1 million shares exchanged hands, about six times of average volumn.

Stocks Drop on Heavy Volumn:

• Chico's Inc. (CHS): shares of Fort Myers, Florida based casual-to-dressy clothing retailer plunge 19.14% or $7.1 to $30 per share after the apparel retailer posted April same-store sales below Wall Street's estimate. The stock was the third biggest loser on NYSE today with 22.4 million shares traded, also the eighth heaviest traded on NYSE.
• Pier One Imports Inc. (PIR): shares of Fort Worth, Texas based furniture and bed and bath accessories retailer plummet 17.58% or $1.92 to near 52 weeks low of $9 per share after the company reported declining same store sales in April. The stock was the fourth leading decliner on NYSE today with 10.2 million shares traded or five times average volumn.