Stocks On The Move - August 2

Stock Rise on Heavy Volumn:

• Pozen, Inc. (POZN): the Chapel Hill, North Carolina based chronic pain drug maker soared 39.39% to $10.44 on partnership with pharmaceutical giant AstraZeneca worth $375 million. The surge began on Monday when the company submitted full response to FDA's approvable letter for Trexima. Last Friday the stock just reached near 52 weeks low of $6.07 per share but has since gained nearly 100%. The stock is now back at first resistence at $10 so it is better to wait a few days before making any buying or selling decision. The stock was the biggest winner on Nasdaq today with 8.77 million shares.
• ValueClick Inc. (VCLK): shares of Westlake Village, CA based online advertising company surged 23.26% on analyst upgrade after the company reported soaring second-quarter earnings on Tuesday. The surge ended the downtrend so this is now a good time to buy the stock for the long term. There maybe some profit taking for the short term as ROC indicates overbuy but any bounce back would mean buying opportunity. The stock was the eighth leading gainer on Nasdaq today with 9 million shares exchanged hands.

Stocks Drop on Heavy Volumn:

• Biovail Corp. (BVF): shares of Canadian specialty pharmaceutical comapny plunged 24.73% to new 52 weeks low of $15.77 on patent ruling against the company. Now that the stock is back to support level at $15 per share we may see some bargain hunting as ROC is also at oversold level. The stock was the biggest loser on NYSE today with 8.5 million shares traded.
• Rambus Inc.(RMBS): in late June the leading memory chips maker tumbled 11.15% due to accounting glitches. Today shares plumetted 25.5% to near 52 weeks low of $12.65 per share after FTC found monopoly practice from the company. The stock may kept falling until it hits support at $10 on weak MACD below 0. But once it hit 0, look for bargain hunter to come in. the stock was the third leading decliner and the nineth heaviest traded on Nasdaq today with 27.5 million shares exchanged hands.