Stocks On The Move - March 7

Stocks Rise on Heavy Volumn:

• Impac Mortage Holdings Inc. (IMH): shares of Newport Beach, CA based mortgage firm bounced back for the second straight day with 18% gain to $5.75 per share. The stock in two days has gained over 40% and is the fifth leading gainer on NYSE today with 7.6 million shares traded.
• Fremont General Corporation (FMT): the Santa Monica, CA based mortgage loan operator is rebound for the straight day by surging 25.81% to $8.53 per share as investors are hoping its subprime unit could be sold. The stock overall has rebounded 44% in just two days. The stock was the biggest winner on NYSE today with 16.7 million shares traded.

Stocks Drop on Heavy Volumn:

• Insmed Inc. (INSM): the litigation settlement with Tercica crush the Glen Allen, VA based metabolic diseases drug maker as the company is laying off a third of the work force. The disaster also spreads to the stock price as shares plummetted 42.58% to 89 cents per share. The stock was the biggest loser and the eighth heaviest traded on Nasdaq today with 30 million shares traded.
• CV Therapeutics Inc. (CVTX): shares of Palo Alto, CA based biopharmaceutical company plunged 23.58% to $9.4 per share on disappointing result from late stage study on its angina drug. The stock was the second leading decliner on Nasdaq today with 22 million shares traded.