Stocks On The Move - June 27

Stocks Rise on Heavy Volumn:

• Republic Bancorp Inc. (RBNC): shares of Owosso, Michigan based banking company which provides commercial banking services in Michigan, Ohio and Indiana soared 17.79% or $1.88 to $12.45 per share as rival Citizens Banking Corp. would buy the company for $1.05 billion. The stock was the third biggest gainer on Nasdaq today with 6.5 million shares or 13 times average volumn.
• Movie Gallery Inc. (MOVI): the severely punished movie rental company is still on the path of climbing back as it surged 13.69% or 76 cents to $6.31 per share on speculation of takeover. Since sinking to 52 weeks low of $1.68 set on March 9, the movie rental company has been on a come back fueling by rumors that the company may merge with rival Blockbuster Inc. (BBI). The stock was the fifth leading gainer on Nasdaq today with 6 million shares exchanged hands.

Stocks Drop on Heavy Volumn:

• Take-Two Interactive Software Inc. (TTWO): earlier this month the New York based interactive game maker was down 17% due to disappointing second quarter result. The situation hasn't improved as the stock continue to slide since and was down 15.7% today to new 52 weeks low of $10.85 per share on probe from New York district attorney on auditing and hidden scenes. The stock was the fourth biggest loser and the twelveth heaviest traded on Nasdaq today with twelve times average volumn of 24 million shares traded.
• Marvell Technology Group.(MRVL): last month the Hamilton, HM based semiconductors maker saw its shares moving up in huge volumn with strong first quarter earning. However today the was on the losers side as it tumbled 14.95% or $7.76 to $44.14 per share after the company bought the handheld chip division of Intel for $600 million. The deal failed to cheer up the investors as it may hurt the company's financial for the near term. The stock was the fifth leading decliner and seventh heaviest traded on Nasdaq today with 40.85 million shares traded.