Stocks On The Move - May 8

Stocks Rise on Heavy Volumn:

• Emmis Communications Corp. (EMMS): shares of Indianapolis, Indiana radio and tv broadcasting company soared 21% or $2.82 to $16.25 per share after the CEO plans to buy the company for $567 million or $15.25 per share. The stock is the forth leading gainer on Nasdaq today with 8.7 million shares traded, about 15 times average volumn.
• Inco Ltd.(N): shares of Toronto, Canada based metal mining company including nickel, copper and cobalt surged 13.56% or $8.01 to new 52 weeks high of $67.09 after Teck Cominco Ltd. offered $17.8 billion Canadian dollars bid to the company. The stock is the fourth leading gainer on NYSE today with 18 million shares traded, also the nineth heaviest traded on NYSE.

Stocks Drop on Heavy Volumn:

• Generex Biotechnology Corp. (GNBT): shares of Toronto, Canada based potential avian flu vaccine maker dropped for the second straight session by losing 9.49% or 28 cents to $2.67 per share on profit taking. The stock was the eighth leading decliner on Nasdaq today with 6.9 million shares traded or half of average volumn.
• Wachovia Corp. (WB): shares of the nation's fourth largest bank declined 6.68% or $3.97 to $55.42 after the company made market expansion into the West by buying Golden West Financial Corp. (GDW) for $24.2 billion. The stock was the fourth biggest loser and fifth heaviest traded on NYSE today with 24.5 million shares traded.