Stocks On The Move - December 12

Stocks Rise on Heavy Volumn:

• EPIX Pharmaceuticals Inc. (EPIX): shares of the Cambridge, MA based biotech company soared 30.25% to $7.19 per share after the copmany signed a broad drug-development deal worth $1 billion with GlaxoSmithKline. The stock was the fourth leading gainer on Nasdaq today with 6.85 million shares traded.
• Mamma.com Inc. (MAMA): shares of Montreal, Canada based web search technology company skyrocketted 80.59% to $4.28 per share after the company launched video search to its site. The stock was the biggest winnder of the stock market today with 29.75 million shares exchanged hands, also the eleventh heaviest traded on Nasdaq.

Stocks Drop on Heavy Volumn:

• Celestica Inc. (CLS): shares of Toronto, Canada based electronic manufacturing service provider tumbled 12.17% to $8.23 per share after the company cuts fourth quarter profit guiance due to falling demand. The stock was the second leading decliner on NYSE today with 5.56 million shares traded.
• Allegheny Technologies Inc.(ATI): shares of Pittsburgh, PA based specialty metals company dropped 8.90% to $89.77 per share as the steel sector is on broad retreat after leader Nucor issued fourth-quarter warning. The stock is the fourth leading decliner on NYSE today with 7.3 million shares traded.