Stocks On The Move - October 3

Stocks Rise on Heavy Volumn:

• Skyworks Solutions (SWKS): shares of Woburn, MA based cell phone component maker soared 35.38% to $6.85 per share after the company plans to exit the cell phone-processor baseband business. The stock may be expecting some profit taking soon as ROC is showing the stock has been overbought. The stock is the second leading gainer and nineth heaviest traded on Nasdaq today with 35.5 million shares traded.
• Revlon Inc. (REV): shares of New York, NY based cosmetics product maker surged 13.51% to $1.26 per share. The technical chart is showing possible raly as K line is about to cross on top over D line. The stock was the biggest winner on NYSE today with 5.07 million shares exchanged hands.

Stocks Drop on Heavy Volumn:

• Marvell Technology Group.(MRVL): shares of Hamilton, HM based semiconductors maker tumbled 12% to $16.8 per share after sales warning from the company. The stock is showing weakness as it is now below 50 day and 200 day MA with K line dropping below D line. The stock was the seventh leading decliner and the third heaviest traded on Nasdaq today with 80.5 million shares traded.
• Quest Diagnostics Inc. (DGX): shares of Lyndhurst, NJ based diagnostic testing company for the healthcare industry plunged 17.9% to $50 per share after the company lost its contract with UnitedHealthcare worth 7% of revenue. This ended the rally which began late last year. However with ROC showing stock is oversold there's chance that the stock may bounce back up soon. The stock was the third leading decliner and the sixth heaviest traded on NSYE today with 25.4 million shares traded.