Stocks On The Move - August 3

Stocks Rise on Heavy Volumn:

• Accredited Home Lenders Holding Co. (LEND): after falling 35% on Thursday, shares of mortgage banking company recovered back $1.66 or $31.26% to $6.97 per share on bargain hunting and anticipation of merger. The stock was the biggest winner on Nasdaq todya with 22 million shares traded.
• Alkermes Inc.(ALKS): shares of biotechnology company rose 12.52% to $16.63 per share after the company posted strong first quarter profit above Wall Street estimate. The stock was the nineth leading gainer on Nasdaq today with 5.23 million shares trade.

Stock Drop on Heavy Volumn:

• American Home Mortgage Investment Corp. (AHM): two day sparks of the in-trouble real estate investment trust company quickly evaporated with shares plummetted 52% to another new low of 69 cents per share as the company closed down offices and laid off most of its workforce, about 7,000. The stock however was the second leading decliner on NYSE today with 28.44 million shares traded.
• RAIT Financial Trust (RAS): another REIT company in trouble was RAIT Financial Trust with shares plunged 33.75% to $6.32 per share as investors worried the company may follow what had happened to AHM. The stock was the fifth leading decliner on NYSE today with 15 million shares traded.