Stocks On The Move - October 17
Stocks Rise on Heavy Volumn:
- InterMune Inc. (ITMN): shares of Brisbane, California based biotechnology company soared 25.49% to $21.12 per share on new deal of $530 million to develop hepatitis C drug with Roche Group. The stock has been on up trend since June and is recently on a rally with K line is again on top over D line. The stock was the best performer on Nasdaq today with 7.87 million shares exchanged hands.
- Lear Corp.(LEA): shares of Southfield, Michigan based car interior system provider surged 15.25% to $28.34 per share after billionair Icahn agreed to buy $200 million worth of stock of the company. The stock could be back to bull market rally as 50 day moving average is about to cross back on top over 200 day moving average with MACD on top of 0. The stock was the biggest gainer on NYSE today with 11.13 million shares traded.
Stock Drop on Heavy Volumn:
- Sapient Corp. (SAPE): shares of Cambridge, MA based business consulting service company plunged 26.88% or $2.11 to $5.74 per share after the company tumbled 13.06% after the company's CEO, CFO resigned due to stock options probe. The stock still has chance to bounce back as the stock is still on the up trend and may attract buyers as the stock is back to 50 day moving average. The stock was the second biggest loser on Nasdaq today with 7.24 million shares traded.
- Triad Hospitals Inc. (TRI): shares of Plano, Texas based heathcare services provider dropped 7.48% to $38.85 per share after the heathcare provider issued third quarter profit warning. enterprise learning software maker plunged 13.5% to $6.47 per share after the company cuts its guidance for the third quarter. The stock is now near its support at $38 per share and has the chace to bounce back with ROC showing the stock is oversold. The stock was the fourth leading decliner on NYSE today with 5.61 million shares traded.
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