Stocks on the Move

After getting FDA approval for trial of experimental diabetes drug, Spherix Inc(SPEX) has seen its shares soared from $1.26 before the news announcement to as many as $5.85 this morning, a near 500% gain in just two days. The Beltsville, Maryland based company is developing drug to treat Type 2 diabetes, the most common diabetes.

Cisco System(CSCO), the leader in networking and communication product is the heaviest traded this morning in Nasdaq and is up 2% on JP Morgan upgrades and the acquisition of Scientific-Atlanta Inc(SFA). Shares of Cisco has been trading near 52 weeks low but may go thru some short term rally based on MACD indicator.

Shares of fabless semiconductor Sigmatel Inc. (SGTL) is down 12% today to $13.78 as analyst exepecting the fourth quarter revenue to fall at the lower end of the estimate. The weakening demand on the company's cell phone sound processors and competition from Apple's(AAPL) iPOD is contributing to the bearish analyst comment. The stock has been trading below both 50 day moving average and 200 day moving average and the price could fall further as the stock technical also showing weakness.