Stocks On The Move - June 16

Stocks Rise on Heavy Volumn:

• Pioneer Natural Resources Co. (PXD): despite a slightly negative market due to profit taking shares of the Irving, Texas based oil and natural gas company still went up for the third consecutive sessions by adding 11.84% or $4.69 to $44.31 per share. Earlier this week on Tuesday the stock has fall to 52 weeks low of $36.43 per share. The stock was the second best performer on NYSE today with 7.5 million shares traded or three time average volumn and was the biggest volumn ever this year. Last time the stock had volumn more than 5 million was back in March 24 of 6.6 million.
• Focus Media Holdings Ltd. (FMCN): shares of Shanghai, China based advertising company surged 11.52% or $6.28 to 60.78 per share on new stock offering at $54 per ADS where each ADS representing 10 ordinary shares. The stock was the twelveth leading gainer on Nasdaq today with 6.2 million shares traded.

Stocks Drop on Heavy Volumn:

• Neurocrine Biosciences Inc. (NBIX): shares San Diego, CA based drug maker tumbled again by dropping 21.63% or $4.19 to new 52 weeks low of $15.18 per share after the company announced that it will need additional trials to receive approval for its sleeping pill. A month ago the drug maker was hammered 62% due to delaying of FDA approval of the same drug. The stock was the third biggest loser on Nasdaq today with 11.9 million shares exchanged hands, almost six times average volumn.
• OmniVision Technologies Inc. (OVTI): the Sunnyvale, California based image sensor chips maker plunged 12.56% or $3.37 to $23.44 per share on negative analysts comment on concern over shrinking margins. The stock was the sixth leading decliner on Nasdaq today with 14.5 million shares traded.