Stocks On The Move - August 11

Stocks Rise on Heavy Volumn:

• Intrawest Corp. (IDR): shares of Vancouver, Canada mountain resort and golf courses operator soared 28.93% to $34.18 per share after the company agreed to be aquired by Fortess for $35 per share. The stock was the biggest winner on NYSE today with 9.24 million shares traded.
• Building Materials Holding Corp.(BMHC): shares of San Franciso, CA based building products maker surged 13.75% to $23.83. It looks like the stock has formed a strong support at $21 and is now ready to move up again. The stock was the seventh leading gainer on Nasdaq today with 5.2 million shares traded.

Stocks Drop on Heavy Volumn:

• Parlux Fragrances Inc. (PARL): shares Ft. Lauderdale, Florida based fragrances and beauty-related products maker were hammered 41.42% to new 52 weeks low of $4.78 per share due to filing delay of the company's quarterly report. The company expected the result to be far below Wall Street estimates. With ROC now at oversold level do expect the stock to bounce back up at least for few sessions. However for the long term the stock is in a very weak market with MACD below 0. The stock was the biggest loser on Nasdaq today with 5.26 million shares traded.
• Mills Corp. (MLS): shares of Arlington, Virgina based shopping center REIT plunged 29.57% to new 52 weeks low of $15.91 on downgrade on accounting error which would slashed $210 million from earnings and quarterly report filing delay. Although there's chance of bounce back with ROC at oversold, with stock still at a long downtrend with MACD below 0, do not expect any huge rally coming soon. The stock was the second leading decliner on NYSE today with 8.75 million shares exchanged hands.