Heavy Volume: Palm, Yahoo and PMI (NASDAQ:PALM),(NASDAQ:YHOO),(NYSE:PMI)

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Today’s advancers on unusually heavy volume include Palm, Inc. (NASDAQ:PALM), Yahoo! Inc. (NASDAQ:YHOO) and The PMI Group, Inc. (NYSE:PMI).  Read on for more information.

Palm, Inc. (NASDAQ:PALM) shares spiked up strong today to close at $5.16 a share (+$0.51 +10.97%),  Volume was explosive as 88M shares traded hands, and that is 4X average daily volume of 22M.  It seems the rumor mill is fueling the stock’s massive price/volume increases.

Not sure who is doing it, but somebody is snapping up shares of Yahoo! Inc. (NASDAQ:YHOO).  Volume for Yahoo shares checked in at 47M, well over 2X the average daily volume of 22M shares.  Shares closed at $17.52 (+$0.17 +0.98%), however the news of the CTO departing may make any gains short-lived.

Shares of The PMI Group, Inc. (NYSE:PMI) spiked early this morning and then retreated, but it still made for a strong day.  Shares closed at $7.10 (+$0.22 +3.20%) and are still gaining ground in the afterhours trading to $7.18.  Volume very strong for the stock as more than 2X average daily volume traded hands today (14.7M versus 6.3M).  It seems that bond/mortgage insures gained on the news of Ambac’s profit.

 

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