Stocks On The Move - June 23

Stocks Rise on Heavy Volumn:

• Western Gas Resources Inc. (WGR): the Denver, Colorado based natural gas company is one of the companies been merged by Anadarko Petroleum Corp. (APC) today. The deal is worth more than $21 billion in total in which Wester Gas is to be bought by $4.7 billion or $61 per share. The natural gas company skyrockets 45.86% or $18.76 to near merger price of $59.67 per share, also its new 52 weeks high. The stock os the biggest winner on NYSE today with fourth leading gainer on Nasdaq today with 15 times average volumn of 18.7 million shares traded.
• Kerr-McGee Corp. (KMG): another big winner of today's Anadarko buyout is Kerr-McGee, the Oklahoma City, Oklahoma based oil and natural gas company. The cost for buying KerrMcGee is far more expensive than Western Gas as Anadarko will pay $16.4 billion or $70.5 per share to acquire Kerr-McGee. The stock ends up surging 36.4% or $18.31 to $68.61 per share and is the second best performer on NYSE today right behind Western Gas and is also the heaviest traded on NYSE today.

Stocks Drop on Heavy Volumn:

• Neurocrine Biosciences Inc. (NBIX): this is the third time that shares San Diego, CA based drug maker got listed on the worst stocks of the day as the stock plunged to another new 52 weeks low of $8.61 per share after Phizer cuts partnership with the company. The turnmoil began on May 16 when the stock dropped 62% on that day due to FDA delaying the company's new sleeping pill. The stock was the biggest loser and tenth heaviest traded on Nasdaq today with 26 million shares exchanged hands.
• Six Flags Inc. (SIX): summer holiday's coming for most schools so good news coming for the amusement parks owners? at least not for the New York based Six Flags as the company is still in deep financial trouble and will be forced to sell six theme parks. The stock got hammered 25.5% or $1.9 to $5.55 per share and was teh worst performer on NYSE today with 17 million shares traded or nine times average volumn.