Stocks On The Move - August 23

Stocks Rise on Heavy Volumn:

• Rambus Inc.(RMBS): after losing 9.67% in the previous trading session due to trial, shares of the memory chips maker regained the loss and soared 17.66% to $13.19 as the court has stayed the final stage of the patent-infringement case filed by Hynix. With KD rising the stock should be back to rally. There is still plenty of room to go as the next resistence is around $15 per share. The stock was the third leading gainer and the fifth heaviest traded on Nasdaq today with 36.8 million shares exchanged hands.
• Gateway Inc. (GTW): shares of Irvine, CA based PC maker surged 13.37% to $1.95 per share as founder of eMachine placed $450 million bid to buy the retail business of Gateway. Risking KD has helped the stock gets back above 50 day moving average. However be cautious as the stock is now near the resistence around $2 per share. The stock was the biggest winner and the third heaviest traded on NYSE today with 26.87 million shares traded.

Stocks Drop on Heavy Volumn:

• Payless Shoesource Inc. (PSS): shares of footwear retailer tumbled 11.29% to $23.1 as the result missed Wall Street estimation despite a 63% jump in second quarter profit. Now the stock is back to a critical point as it is now sitting at 200 day moving average. So it is best to wait to see which direction the stock will go. The stock was the worst stock on NYSE tody with 4.79 million shares traded.
• KB Home.(KBH): shares of the nations leading home builder lost 6.16% to $40.53 on analyst downgrade as the company began reviewing stock option grant given to CEO. The stock continue to show weakness as it is trading below 50 day and 200 day moving average on falling KD. The stock was the sixth leading decliner on NYSE today with 4.6 million shares exchanged hands.