Stocks On The Move - October 6

Stocks Rise on Heavy Volumn:

• Chattem Inc. (CHTT): shares of Chattanooga, TN based over-the-counter healthcare products manufacturer soared 28.38% to $44.2 per share after the company agreed to acquire five product brands from Johnson & Johnson and Pfizer Inc. for $410 million. With ROC showing the stock is overbought there could be profit taking for the shor term. The stock is the third leading gainer on Nasdaq today with 8.77 million shares traded.
• Sovereign Bancorp Inc. (SOV): shares of Philadelphia based commercial banking company surged 11.57% to $24.1 per share after the company plans to outst its Chairman and CEO Jay Sidhu. The stock is now at bull market as 50 day moving average is back above 200 day moving average. The stock was the biggest winner on NYSE today with 15.8 million shares traded.

Stocks Drop on Heavy Volumn:

• Mobility Electronics Inc.(MOBE): shares of Scottsdale, Arizona based power products maker for mobile electronic devices plunged 41.82% to $3.13 per share on third quarter revenue warning. The stock has change to bounce back up as ROC shows the stock is oversold. The stock is the biggest loser on Nasdaq today with 5.36 million shares traded.
• Micron Technology Inc. (MU): shares of computer memory products maker tumbled 13.68% to $15.14 per share on disappointing earning report. There's the possibility that the stock may bounce back as ROC is showing the stock is oversold and the stock is back to 200 day moving average. The stock is the leading decliner and the second heaviest traded on NYSE today with 61 million shares traded.