Stocks On The Move - July 3

Stocks Rise on Heavy Volumn

• Encore Medical Corp. (ENMC): despite a short trading session due to the July 4 holiday some stocks such as the Austin, Texas based Encore Medical, an orthopedic devices maker was able to make quite a bit of gain on heavy volumn. The stock today jumped 30.98% or $1.49 to near 52 weeks high of $6.3 per share after the company accepted a buyout deal to go private for $870 million or $6.55 per share. The stock was the second biggest winner on Nasdaq today with 9 million shares traded, also the twelveth heaviest traded on Nasdaq.
• Gateway Inc. (GTW): a short trading session also didn't stop investors from pushing the Irvine, CA based PC maker up for the third straight session as the company on Friday announced amendement of credit agrrement which will increase the borrowing base by $50 million. The stock surged 8.95% to $2.07 per share and is now back above 50 day moving average, a lightly more positive signal for the stock. The stock was the fifth leading gainer on NYSE today with 5 million shares traded.

Stock Drop on Heavy Volumn

• Merge Healthcare (MRGE): most investors are heading for the holiday comfortably as the market finished the day with a rally. However investors of Milwaukee, WI based Merge Healthcare, a medical software and services provider are heading for holiday with nightmare as the stock tanked 40.7% or $5.01 to new 52 weeks low of $7.3 per share after several executives, including founder have resigned on probing of the company's financial statement. The stock was the biggest loser on Nasdaq today with 7.3 million shares traded, the fourteenth heaviest traded on Nasdaq.
• Millicom International Cellular SA(MICC): the Luxembourg based cell phone company saw its shares plummeted 26.63% to $33.33 today after the takeover talk broke off as the potential buyers couldn't amke a firm offer. The stock was the second leading decliner and the eleventh heaviest traded on Nasdaq today with 10.2 million shares traded.