Stocks On The Move - August 8

Stocks Rise on Heavy Volumn:

• Priceline.com Inc. (PCLN): shares of online travel company surged 16.81% to near 52 weeks high of $30.85 per share after analyst raised profit estimate for the travel site after the company posted better than expected third quarter earnings. The stock is now abck at the resistence and if the stock can break above the resistence on rising KD we should see higher price soon. The stock was the fifth leading gainer on Nasdaq today with 6.12 million shares traded.
• Aleris International Inc.(ARS): shares of Beachwood, Ohio based aluminum products manufacturer soared 27.69% to new 52 weeks high of $52.85 per share on takeover by Texas Pacific Group for $1.7 billion or $52.5 per share. The stock was the biggest winner on NYSE today with 5.2 million shares traded.

Stock Drop on Heavy Volumn:

• Brocade Communications Systems Inc. (BRCD): shares of San Jose, CA based storage networking equipment maker plunged 18.4% to $5.01 on $713 million buyout for McData which raised questions from analysts. This ended the bull market run which began last November. The stock is now at a weak market with price below 200 day moving average with MACD now below 0 showing bear market. The stock was the seventh leading decliner and the third heaviest traded on Nasdaq today with 69 million shares traded.
• United Rentals Inc. (URI): shares of Greenwich, CT based construction and industrial equipment rental company tumbled 18.3% to $21.96 per share after the company reported earning of $56 million or 51 cents per share, far less than analysts estimate of 63 cents per share. The 50 day moving average is about to dropped below 200 day moving average showing the stock is entering into a really weak market with MACD below 0 indicating bear market. The stock has dropped way below the support at $25 and the next support is at $20. The stock was the biggest loser on NYSE today with 8.49 million shares exchanged hands.