Stocks On The Move - March 14

Stocks Rise on Heavy Volumn:

• Accredited Home Lenders Holding Co. (LEND): the subprime mortgage sector is finally seeing some light as the sell-off looks like is finally over with many stocks in the sector rising today. One of the huge winner is San Diego based Accredited Home Lenders Holding with shares soaring 52.14% to $6.04 per share. However the stock price is still only 20% of the price early this year. The stock was the third leading gainer and the seventh heaviest traded on Nasdaq today with 40.3 million shares traded.
• Novastar Financial Inc. (NFI): another winner in the hard beaten subprime mortgage sector is Kansas City based Novastar Financial with shares surging 21.87% to $4.18 per share. However it is still very far from the December price of $30 per share which was before the subprime mortgage sector crash. The stock was the fourth leading gainer on NYSE today with 7.38 million shares traded.

Stocks Drop on Heavy Volumn:

• Doral Financial Corp.(DRL): shares of San Juan, Puerto Rico based financial service company plunged 20.92% to new 52 weeks low of $1.19 per share. The stock has been on a multi year long decline which began in January of 2005 when the stock was tarding around $50 per share. The stock was the biggest loser on NYSE today with 5.98 million shares traded.
• AudioCodes Ltd. (AUDC): shares of Israel based network communication technologies company sank 22% to $7.44 per share after the company cut its first quarter outlook due to slow intake of order. The stock was the third leading decliner on Nasdaq today with 4.29 million shares traded.