Stocks On The Move - July 25

Stocks Rising On Heavy Volumn:

• Momenta Pharmaceuticals Inc. (MNTA): shares of Cambridge, MA based biotechnology company soared 38.08% or $4.97 to $18.02 per share on new contract with Novartis. The stock few days ago just hit 52 weeks low of $10.4 per share after slipping for most of the year from $30 per share last September. Today's action brought the stock back above 50 day moving average and is within striking distance to $20 moving average. Although there may be some profit taking for few days the stock should be expected to go higher for the year as MACD is getting closer to 0 and could bring the stock back to bull market. The stock was the second biggest winner on Nasdaq today with 6.4 million shares exchanged hands.
• Agere Systems Inc. (AGR): shares of communication and storage chips maker surged 24.17% to $14.9 per share on analyst upgrade after the company posted third quarter earning which beat analyst estimate. The company posted net income of $47 million or 27 cents per share compared to analyst estimate of 16 cents per share. Today's action was a bounce back after the stock hit the floor of $12 per share and ROC reached oversold level of -2. The next few days would be critical as 50 day moving average is dropping near 200 day moving average and may turn the stock into a weak market. The stock was the second leading gainer on NYSE today with 7.5 million shares traded.

Stocks Dropping On Heavy Volumn:

• Encysive Pharmaceuticals Inc. (ENCY): last month the Bellaire, Texas based biopharmaceutical company soared 38.81% in one day after FDA began to review the company's blood pressure drug which FDA delayed the approval in March. Unfortunately today FDA again delayed the approval of the drug and send the stock down 40.29% to near 52 weeks low of $3.69 per share. The heavy punch erased most of the gains for the two months rally which began when the stock hit 52 weeks low in mid May and probably scared a lot of investors away. Watch the stock for few days to see if the worst is over before buying the stock at discount. The stock was the worst on Nasdaq with 18.8 million shares traded.
• Zoran Corp. (ZRAN): shares of DVD player chips maker plunged 28.18% to $14.17 per share on two analysts downgrade on weak third quarter outlook due to lower sales. This erased all the gains for this year and the stock was back to the level seen last October. Although the stock may bounced back for few days for the long term the stock was expcted to remain weak as 50 day moving average could dropped below 200 day moving average. The stock was the second leading decliner on Nasdaq today with 11.6 million shares traded.