Stocks on The Move - September 6

Stocks Rise on Heavy Volumn:

• Pegasus Wireless Corp. (PGWC): after three days of sell-off, shares of Fremont, California based wireless hardware software provider bounced back up 10.6% to $1.67 per share. The stock plunged from $5.15 in late August to as low as $1.1 per share. The stock was the thirteenth leading gainer on Nasdaq today with 8 million shares traded.
• Hanesbrands Inc. (HBI): shares of clothing designer and manufacturer surged 6.62% to $21.11 per share on day of debut. The stock was the sixth leading gainer on NYSE today with 7.6 million shares exchanged hands.

Stocks Drop on Heavy Volumn:

• Genta Inc. (GNTA): the sell-off contiues for the disasterous biopharmaceutical company as it plunged 40.73% again today, adding to the 38.23% slide yesterday to yet another 52 weeks low of 51 cents per share on FDA's rejecction on company's cancer drug. Heavy volumn of 29.6 million shares have traded.
• Redback Networks Inc. (RBAK): shares of the San Jose, California based telecommunications equipment maker tumbled 16.08% to $14.09 per share on analyst downgrade saying the company is unlikely to win a deal from Verizon. The stock was the fifth leading decliner on Nasdaq today with 13 million shares traded.