Stocks On The Move - October 31

Stocks Rise on Heavy Volumn:

• Sirna Therapeutics Inc. (RNAI): shares of San Francisco based biotechnology company skyrocketted 95.81% to $12.63 per share after Merck is buying the company for $1.1 billion. The stock was the best performer on Nasdaq today with 14.9 million shares traded.
• Lumera Corp. (LMRA): shares of Bothell, Washington based nanotechnology company soared 37.64% to new 52 weeks high of $8.74 per share after Harvard Medical School researchers are using the company's biosensor. The stock is still very strong with 50 day moving average is about to cross on top over 200 day moving average. The stock was the second leading gainer on Nasdaq today with 18.1 million shares exchanged hands.

Stocks Drop on Heavy Volumn:

• Avanir Pharmaceuticals (AVNR): shares of San Deigo based chronic diseases drug maker plummetted 46.22% to $3.98 per share after receiving approvable letter from FDA. With ROC now showing the stock is oversold the stock has chance to bounce back up soon. The stock was the leading decliner on Nasdaq today with 24.25 million shares traded, also the tenth heaviest traded.
• Omnicare Inc. (OCR): shares of Covington, Kentucky based pharmaceutical services company tumbled 10.87% to $37.88 per share on profit drop due to reduction in rate reimbursement from heath care provider UnitedHealth. The technical chart shows the stock is in a weak market with KD falling and MACD dropping below 0. The stock was the fifth leading decliner on NYSE today with 18.37 million shares traded.