Stocks On The Move - June 5

Stocks Rise on Heavy Volumn:

• Laserscope (LSCP): shares of San Jose, CA based medical laser systems manufacturer skyrocketted 43.16% or $9.24 to $30.65 per share on buyout from American Medical System for $715 million or $31 per share. The stock was the biggest winner and the twentieth heaviest traded on Nasdaq today with 13 million shares traded, or 33 times average volumn.
• Cutera Inc. (CUTR): shares of Brisbane, CA based medical lasert systems maker soared 33.6% or $6.31 to $25.09 per share on analyst upgrade and bullish comment following the company's patent lawsuit settlement despite taking a $22 million charge in the second quarter. The stock was the second leading gainer on Nasdaq today with 8.2 million shares traded or 37 times average volumn.

Stocks Drop on Heavy Volumn:

• Onyx Pharmaceuticals Inc. (ONXX): shares of Emeryville, CA based biopharmaceutical company developing therapies for kidney cancer plummeted 15.14% or $3 to new 52 weeks low of $16.82 per share after the analyst lowered price target of the biotech firm as the company's drug won't be as demanding as previously thought. The stock was the third leading decliner on Nasdaq today with 13.2 million shares traded or 16 times average volumn.
• Elan Corp. (ELN): shares of Dublin, Ireland based drug maker plunged 12.96% or $2.46 to $16.52 per share on analyst downgrade as the multiple sclerosis drug banned from selling previously would be allowed to be back on market with restrictions. The stock was the biggest loser and the second heaviest traded on NYSE today with 31.6 million shares exchanged hands.