Stocks On The Move - November 2

Stocks Up on Heavy Volumn:

• WellCare Health Plans, Inc. (WCG): this was still an $100 per share stock two weeks ago. However the FBI and state agency investigation on October 24, 2007 triggerred the sell-off and cut stock price of the Florida based healthcare provider in half. The slide continued till it reached the new low of $20 on October 31. On Friday the stock surged 19% and rose another 23% during the after hour trade as the company began its own investigation on expense report fraud. The stock was the leading gainer on NYSE on Friday with 12 million shares traded.
• Western Digital Corp. (WDC): the hard disk driver maker benefits from strong demand from PC maker Hewlett-Packard, Dell and Apple and reported a strong first quarter result. The announcement send the stock to new 52 weeks high of $29.45 per share and ends the day at $28.91, rising 11.11% in one day. The stock was the tenth leading gainer on NYSE with 13 million shares traded.

Stocks Down on Heavy Volumn:

• Ambac Financial Group, Inc. (ABK): shares of New York based Mortgage bond insurer plunged 20% to 52 weeks low of $23.51 per share on analyst downgrade. The stock became the latest victim of the credit market meltdown which sank shares of the subprime companies. The stock was the second leading decliner on NYSE with 29.9 million shares traded.
• Silicon Image Inc. (SIMG): weak third quarter report send shares of semiconductor comapny down 25.6% to 52 weeks low of $4.5 per share. The company's third quarter earnings dropped almost 50% to 4.1 millions. The stock was the fourth leading decliner on Nasdaq with 10.37 million shares traded.