Stocks On The Move - May 8

Stocks Rise on Heavy Volumn:

• Florida East Coast Industries Inc. (FLA): shares of St. Augustine, Florida based regional freight railroads operator surged 14.54% to 52 weeks high of $84.91 per share after the company agreed to go private for $3.5 billion total of $84 per share with $62.5 common stock and $21.5 special dividend. The stock was the leading gainer on NYSE today with 6.95 million shares traded.
• McDermott International Inc.(MDR): shares of Houston, based offshore oil drilling and production facilities engineering company jumped 11.11% to 52 weeks high of $65.59 per share following a strong first quarter report. The stock was the third leading gainer on NYSE today with 5.9 million shares exchanged hands.
• AK Steel Holding (AKS): shares of Middletown, Ohio based steel maker rose 9.23% to $52 weeks high of $35.02 per share after ArcelorMittal, the largest steel maker, may make an offer to buy the company. The stock was the fifth leading gainer and the nineth heaviest traded on NYSE today with 28 million shares traded.

Stock Drop on Heavy Volumn:

• DJO Incorporated.(DJO): shares of rehabilitation products maker neurological disorders drug maker tumbled 13.1% to $34.75 per share after the company's first quarter profit fall 33% due to acquisition and stock-option expenses. The stock was the third leading decliner on NYSE today with 7 million shares traded.