Stocks On The Move - February 5
Stocks Rising On Heavy Volumn:
- Investors Financial Services Corp. (IFIN): shares of Boston, based asset administration services provider jumped 27.37% to $59.8 per share after State Street is buying the company for $4.18 billion dollars. The stock was the third leading gainer and the eleventh heaviest traded on Nasdaq today with 25.94 million shares traded.
- Rambus Inc.(RMBS): shares of leading memory chips maker soared 24.21% to $23.5 per share despite Federal Trade Commission's ruling to cap royalty rates for the company. The stock was the fourth leading gainer and the sixth heaviest traded on Nasdaq today with 40.1 million shares exchanged hands.
Stocks Dropping On Heavy Volumn:
- Columbia Labs Inc. (CBRX): shares of Livingston, NJ based pharmaceutical company plummetted 67.9% to $1.48 per share on negative results from late stage study of its drug. The stock was the worst stock on the exchange today with 22.2 million shares traded.
- SLM Corp. (SLM): shares of Reston, VA based education loans provider tumbled 8.8% to $42.37 per share on President Bush's budget request to cut lender subsidies. The stock was the fifth leading decliner on NYSE today with 30 million shares traded.
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