Stocks On The Move - June 7

Stocks Rise on Heavy Volumn:

• Loopnet Inc. (LOOP): the down market didn't scare the buyers away from the IPO market as shares of online commercial real estate marketplace LoopNet Inc. soared 25% or $3 higher than its offering price at $12 and finished the day at $15 per share. The stock is the best performer on Nasdaq today with 5.4 million shares traded.
• Home Solutions of America Inc. (HOM): bargain hunters saw buying opportunity of the tumbling Dallas, Texas based home remodeling company as the stock fall from $13.2 on May 23 all the way to as low as below 200 day moving average of $4.79 per share yesterday. The heavy buying of 19.8 million shares, fifth heaviest on AMEX, lifted the shares up 16.76% to $7.94 per share followed by analyst upgrading the stock to Strong Buy. Analyst expects the stock to hit $15.5 per share within the next six months.

Stock Drop on Heavy Volumn

• Corning Inc. (GLW): the diversified glass company has always been on the forefront of glass applied technology from light bulb and kitchen ware in the early days to fiber optic and liquid crystal displays in present days. However shares of the Corning, NY based company were believed to be hurt by weakness of LCD panel shipments from AU Optronics, one of the leading LCD manufacturer. As a resutl the stock lost $2.1 or 8.73% to $21.95 per share, off 25% from 52 weeks high of $29.61 two months ago. The glass technology company was the six leading decliner on NYSE today with 29.8 million shares traded, the third heaviest traded on NYSE.