Stocks On The Move - November 10

Stocks Rise on Heavy Volumn:

• Tanox Inc. (TNOX): the Houston based drug maker became the best performer on Nasdaq today as Genentech is buying the company for $919 million or $20 per share. Shares rose 44.79% to near buyout price of $19.75 with 28 times average volumn of 8 million shares traded.
• NYSE Group Inc. (NYX): the operator of New York Stock Exchange is among the leading gainers on its exchange today on speculation that it could remove trading fee caps. Shares rose 7.9% to new high of $94.48 per share. The stock has almost gone nine-fold in two years as it was trading as low as $11.5 on it's first month of trading back in August 2004. The stock was the seventh leading gainer with 11.9 million shares exchanged hands.

Stocks Drop on Heavy Volumn:

• Scottish Re Group Ltd. (SCT): the Bermuda based life insurance company continued it's slide for the fifth day in a row as it lost another 20.2% to 6.4 per share after the company posted third quarter loss late Thursday. The reinsurer for the third quarter posted third quarter net loss of $27.4 million compared to net income of $34.4 million in the same quarter of previous year. The stock was the biggest decliner on NYSE today with 8.77 million shares traded.
• Capstone Turbine Corp.(CPST): this has been a rough year for the Chatsworth, CA based microturbine generator maker as shares reached near 52 week low again after reporting second quarter loss in the aftermarket on Thursday. Shares tumbled 13.58% to $1.4 per share. The stock was the twelveth leading decliner on Nasdaq today with 4.94 million shares traded.