Stocks On The Move - August 30

Stocks Rise on Heavy Volumn:

• AnorMED Inc. (AOM): shares of Canada based HIV drug maker went almost doubled to $9.9 per share on rejection of $380 million takeover offer from Genzyme Corp. The stock was the biggest winner on the stock exchanges today with 5.5 million shares traded.
• NAVTEQ Corp.(NVT): shares of Chicago based digital map database company surged 12.06% to $26.85 per share. With K line now ready to cross on top over D line the stock has the chance to start new rally. The stock was the third leading gainer on NYSE today with 4.4 million shares traded.

Stock Drop on Heavy Volumn:

• VA Software Corp.(LNUX): shares of Fremont, CA based open source software platform provider tumbled 16.56% to $3.78 per share as the company missed fourth-quarter revenue targets depite swung to profit. With K line now below D line the stock could slide further at least till $3.5. The stock was the biggest loser on Nasdaq today with 2.86 shares traded.
• Holly Corp. (HOC): shares of Dallas based oil refining company lost 7.37% to $44.77 per share on dropping oil price. For the long term the stock is still in bull market with both 50 day and 200 day moving average going up. The stock was the second leading decliner on NYSE today with 3.2 million shares traded.