Stocks On The Move - July 10

Stocks Rise on Heavy Volumn

• Foot Locker Inc. (FL): shares of New York based athletic footwear retailer surged 9.98% to new 52 weeks high of $27.32 per share as private equity Kohlberg Kravis Roberts & Co. plans to bid the company for mroe than $30 per share. The stock may cool down a bit for the next few days as the bid wars of the footwear retailer continues we could probably see the stock trading in the 30s pretty soon in the next two to three weeks. The stock was the second leading gainer on NYSE today with 7.3 million shares trade or 5 times average volumn.

Stock Drop on Heavy Volumn

• Connetics Corporation (CNCT): shares of Palo Alto, CA based pharmaceutical company plunged 33.62% to new 52 weeks low of $7.76 per share as the company lowered its second quarter outlook and withrew the forecast for the year. Although the stock sank to as low as $7.16 for the day, it climbed back a little bit later and even rose 5.15% in afterhour. Looks like for the next few days the stock may go up on bargain hunting. The stock unfortunately was the worst stock of the day on Nasdaq with 12 million shares traded.
• InterDigital Communications Corp. (IDCC): shares of King of Prussia, PA based wireless technology development and licensing company sank 20.85% to $25.89 per share on analyst downgrade as the stock price already reflects the company's long-term growth potential. The stock has just reached 52 weeks high of $35.44 per share last Thursday. The stock was the third leading decliner on Nasdaq today with 10.45 million shares traded or eight times average volumn.