Stocks On The Move - August 1

Stocks Rise on Heavy Volumn:

• Scottish Re Group Ltd. (SCT): yesterday the Bermuda based life insurance company hit new low of $3.99 after it was hammered 75.06% due to second quarter earning warning with resignation of the company's president and chief executive. Since ROC were at record low, we predicted a bounce back today. The rebound was overwhelming as the shares skyrocketted 71.43% to $6.84 per share. The stock probably won't go back to $15 per share and the next few sessions would determine how the stock would do for the next few weeks. The stock was the best performer of the day and the fourth heaviest traded on NYSE with 37 million shares traded, more than the shares traded yesterday.
• Cendant Corp.(CD): shares of New York based travel and real estate services provider surged 22.61% to $2.44 per share on first day trading of its hotel and real estate businesses spin-offs. The stock was the fourth leading gainer and the heaviest traded on NYSE today with 80.7 million shares traded.

Stock Drop on Heavy Volumn:

• Cyberonics Inc. (CYBX): shares of Houston, Texas based neuromodulation company plunged 25.85% to new 52 weeks low of $15.89 per share as the company saw first quarter sales to be short of analysts estimate and also received nocompliance notice from Nasdaq because it missed the first-quarter filing deadline. Since the stock has broke the near term base of $20 it would be better to sell the stock whenever there's a bounce back which is expected as ROC is at oversold level. The stock was the second biggest loser on Nasdaq today with 5.5 million shares traded.
• Powerwave Technologies Inc. (PWAV): shares of Santa Ana, CA based wireless communication equipment maker on downgrades after the company reported disappointing second quarter result and issued weak outlook. The stock has dropped below the 2 year support and is testing the next support at $5 per share. Since the stock is currently in downtrend, it's best to sell the stock when there's a rebound. The stock was the fifth leading decliner and the eighth heaviest traded on Nasdaq today with 27 million shares exchanged hands.