Stocks On The Move - April 23

Stocks Rise on Heavy Volumn:

• Alfacell Corp. (ACEL): shares of New Jersey based biopharmaceutical company soared 30% to $3.48 per share despite no news announcement. The stock continue the surge which began in March with positive results from its drugs. The stock was still a $1 stock earlier in Marhc. The stock was the leading gainer on Nasdaq today with 2.9 million shares traded.
• MedImmune Inc.(MEDI): shares of biotechnology company surged 17.83% to $56.57 per share after the company is to be bought by AstraZeneca for $15.6 billion or $58 per share. The stock was the seventh leading gainer on Nasdaq and the heaviest traded on the stock exchange today with 148 million shares traded.

Stock Drop on Heavy Volumn:

• Atherogenics Inc. (AGIX): shares of Alpharetta, Georgia based chronic inflammatory diseases drug maker tumbled 15.34% to $3.09 per share after AstraZeneca PLC is expected to pull out of heart drug development. The stock was the third leading decliner on Nasdaq today with 8.34 million shares traded.
• Applied Micro Circuits Corp. (AMCC): shares of Sunnyvale, CA based semiconductor company plunged 22.66% to $2.73 per share due to fourth quarter sales warning. The stock was the leading decliner and the fourth heaviest traded on Nasdaq today with 58 million shares traded.