Stocks On The Move - October 26

Stocks Rise on Heavy Volumn

• LSI Logic Corp (LSI): shares of Milpitas, CA based semiconductor company surged 14.13% to $9.53 per share after the company posted strong third quarter profit. The stock was the fourth leading gainer on NYSE today with 17 million shares traded. The chart is showing the stock is on the uptrend.
• TeleTech Holdings Inc. (TTEC): shares of Englewood, Colorado based busines sprocess outsourcing company soared 21.06% or $3.33 to $19.14 per share on analyst upgrade on strong third quarter earning. The stock was the fourth best performer on Nasdaq today with 5.5 million shares exchanged hands. The stock has been on a strong market since August.

Stock Drops on Heavy Volumn

• Renovis Inc. (RNVS): shares of South San Francisco, CA based biotechnology company plummetted 75.85% to $3.43 per share on failure of late-stage clinical trial of the stroke drug. The stock was the biggest loser on Nasdaq today with 46.76 million shares traded. With stock now way oversold we may see bargain hunters coming soon.
• Red Hat Inc. (RHAT): shares of maker of Linux - a computer operating system, plunged 23.99% to $14.83 per share on new competition from Oracle. The stock was the third leading decliner and the second heaviest traded on Nasdaq today with 113 million shares traded. The stock may bounce back soon with stock now oversold.