Stocks On The Move - June 22

Stocks Rise on Heavy Volumn:

• Hologic Inc. (HOLX): shares of the Bedford, Massachusetts based medical imaging systems provider soared 18.09% or $7.47 to $48.76 per share as the company would still get reimbursements from federal government on medical imaging equipment which investors earlier thought the funding could be axed and had been punishing the stock. The stock was the fourth leading gainer on Nasdaq today with 6.65 million shares traded.
• Novell Inc. (NOVL): shares of Waltham, Massachusetts based open source software provider surged 9.17% or 55 cents to $6.55 per share after the company ousted its CEO and CFO due to sluggish performance of the company and the stock. The stock was the tenth heaviest traded and the fifteenth best peformed on Nasdaq today with 27.9 million shares traded.

Stocks Drop on Heavy Volumn:

• Medifast Inc. (MED): shares of Owings Mills, Maryland based disease management products maker plunged 21.77% or $4.55 to $16.35 per share on profit taking after the stock hit 52 weeks high of $21 per share yesterday. Another reason hurting the stock is that the stock was lited in StockLemon, which rated the stock as overvalued. The stock was the biggest loser on AMEX today with 5.8 million shares traded or ten times average volumn.
• Rite Aid Corp. (RAD): shares the nations third leading drugstore chain lost 7.69% or 35 cents to $4.2 per share after the company reported disappointing first quarter profit below analysts expections. For the first quarter of 2006 the company reported earning of $3.2 million or a penny per share compared to analysts estimate of 3 cents per share. The stock was the leading decliner and the eighth heaviest traded on Nasdaq today with 22 million shares traded or four times average volumn.