Stocks On The Move - March 12

Stocks Rise on Heavy Volumn:

• La Jolla Pharmaceutical Co. (LJPC): shares of San Diego, CA based biotechnology company soared for the second straight day with another 39.29% jump to $7.7 per share following yesterday's positive results from late stage study of Riquent which treats autoimmune disorder lupus. The stock was still the second best performer on Nasdaq today with 7.07 million shares traded.
• Dollar General Corp. (DG): shares of general merchandise discount retailer surged 25.57% to $21.07 per share after a New York private equity firm is buying the retailer for $7.3 billion or $22 per share. The stock was the biggest winner and the heaviest traded on NSYE today with 67 million shares traded.
• Sierra Health Services Inc. (SIE): shares of Las Vegas based health care plans provider gained 15.79% to $41.57 per share after UnitedHealth agreed to acquire the company for $2.6 billion. The stock was the second leading gainer on NYSE today with 8.55 million shares traded.

Stocks Drop on Heavy Volumn:

• Accredited Home Lenders Holding Co. (LEND): shares of San Diego, CA based subprime mortgage provider plunged 27.76% to $11.4 per share on possible bankruptcy from rival New Century Financial Corp as lenders stopped providing financial support. The stock was the biggest loser on Nasdaq today with 11.49 million shares traded.
• Novastar Financial Inc. (NFI): the Kansas City subprime mortgage provider is another victim of the New Century Financial woe as shares tumbled 19% to $4.24 per share. The stock was the third leading decliner on NYSE today with 6.4 million shares traded.