Stocks On The Move - July 26

Stocks Rise on Heavy Volumn:

• Sigmatel Inc. (SGTL): shares of Austin, Texas MP3 players chips maker soared 31.95% or $1.23 to $5.08 per share after the company posted better than exptected second quarter result. The stock few days ago has just reached all time low of $3.45 per share. Last year the stock was still trading at $20 per share but bad earnings send the stock down 80% for the year. With stock still trading at multi-year low the stock could be expected to go up with bargain hunting and K linke rising on top of D line indicating buy signal. The stock was the third biggest winner on Nasdaq today with 5.5 million shares traded.
• Mylan Laboratories Inc. (MYL): shares of Canonsburg, PA based drug maker surged 10.07% on rise in first quarter profit from $42.9 million to $75.6 million thanks to strong sales of the company's transdermal pain patch. However do expect some profit taking for the next few days as ROC is at overbought level while the stock remains weak with MACD still below 0. The stock was the fourth leading gainer on NYSE today with 10.4 million shares traded.

Stocks Drop on Heavy Volumn:

• SiRF Technology Holdings Inc. (SIRF): shares of San Jose, CA based global positioning system(GPS) chips maker plunged 23.24% to 52 weeks low of $19.69 per share on weak third quarter outlook due to stock option costs and other charges. The stock should be able to rebound as ROC indicates the stock is oversold. However with 50 day moving average down below 200 day moving average, do expect selling pressure when stock rises back to 50 day moving averaeg. The stock was the second biggest loser on Nasdaq today with 9.4 million shares exchanged hands.
• Amazon.com Inc. (AMZN): shares of leading online bookstore tumbled 21.82% to new 52 weeks low of $26.26 as second quarter profit plunged 58% due to discount on shipping. With ROC also plunging to new low at record oversold level, do expect some bargain hunting for the next few days. The stock was the third leading decliner and third heaviest traded on Nasdaq today with 77 million shares traded.