Stocks in Motion: Genworth Closes Flat in Debut

GE's life-insurance and mortgage unit sees huge volume though.
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Updated from 3:21 p.m. EDT

Genworth Financial

(GNW) - Get Report

, the

life insurance and mortgage unit of

General Electric

(GE) - Get Report

, closed flat at $19.50 in its first day of trading, but topped the volume-leader board on the

New York Stock Exchange

, with 39.9 million shares changing hands. GE was also among the most actively traded stocks, closing up 43 cents, or 1.4%, to $31.21 on volume of 22.9 million shares.

An analyst's view that yesterday's hammering of tobacco shares was an overreaction also sent

Altria

(MO) - Get Report

up the NYSE volume-leader board on Tuesday.

Shares of the

Dow

component tumbled 9% Monday after a federal judge denied an industry bid to cap $280 billion in damages that the U.S. Department of Justice is seeking in a racketeering suit. Tuesday morning, Citigroup called the previous session's slide a buying opportunity, saying the selloff was overdone. Altria stock closed up $1.54 cents, or 3.43%%, to $46.49 on about 19.5 million shares traded.

Charles Schwab

(SCH)

saw its shares thumped after a downgrade from Friedman Billings, which said that Schwab would cut commissions for stock trades to increase its customer base. Shares of Schwab closed down 30 cents, 3.2%, to $9.25 on volume of 21.8 million shares.

Medical device manufacturer

Medtronic

(MDT) - Get Report

was active again Tuesday, one day after reporting

better-than-expected fourth-quarter earnings. Shares fell 13 cents, or 0.27%, to $47.22 on volume of 22.6 million shares, after the company reported that a phase I trial of its drug-coated stent found signs of artery renarrowing in some patients, although, according to the company, the study's main endpoint of safety was achieved.

Those results boosted rival stent maker

Boston Scientific

(BSX) - Get Report

, which announced results from its own clinical trial of its device. Boston Scientific was up $2.92, or 7.79%, to $40.41 on volume of 13.1 million shares.

IPIX

(IPIX)

zoomed up after the technology company received a patent on its AdMission platform, which allows clients to upload, process and distribute ads through a browser. The company also announced a resale agreement with

JCS Digital Security

to sell its CommandView digital cameras in its security systems.

About 18 million shares changed hands as shares of IPEX rose 88 cents, or 12.9%, to $7.70. It was among the highest price gainers on the

Nasdaq

and one of the most active stocks on Tuesday.

Other active Big Board stocks included

Lucent

(LU)

and

AT&T Wireless Services

(AWE)

.

On the Nasdaq, in addition to IPIX, active tech giants included

Sun Microsystems

(SUNW) - Get Report

,

Intel

(INTC) - Get Report

and

Microsoft

(MSFT) - Get Report

.

High oil prices put five energy stocks among the top gainers on the NYSE. The energy cohort included

El Paso

(EL) - Get Report

, which closed up 63 cents a share, or 8.91%, to $7.70;

Houston Exploration

(THX)

, up $4.07, or 8.92%, to $49.70; gas pipeline operator

TGS

(TGS) - Get Report

, up 31 cents, or 8.07%, to $4.15; and

Tesoro Petroleum

(TSO)

, which closed up $1.81 a share, or 8.12%, to $24.10.

Tenneco Auto

(TEN) - Get Report

shares saw the biggest percentage jump on the Big Board after the auto-parts maker pulled a secondary share offering, citing volatile market conditions. Shares closed up $1.86, or 18.22%, to $12.07.

Nasdaq price gainers were led by trading technology company

NYFIX

(NYFXE)

, which closed up $1.28, or 29.09% at $5.68.

Other Nasdaq gainers included

Data Systems Software

(DSSI) - Get Report

,

Provalis

(PVLS)

,

Kintera

(KNTA)

and

US Airways

(UAIR)

.

Shares of

Dyax

(DYAX)

were hammered as the Food and Drug Administration raised questions about the company's animal testing practices and forced it to stop a clinical trial for a drug used to treat a rare genetic disorder. Dyax was down $4.15 a share, or 28.8%, to $10.26 on volume of 10.9 million shares.

"The issue is expected to be resolved in the next several weeks," Dyax said Tuesday. "We are committed to working with the FDA to resolve this issue as rapidly as possible," said Henry Blair, CEO of the Cambridge, Mass.-based biotechnology company.

Astro-Med

(ALOT) - Get Report

, the West Warwick, R.I., medical technology company, reported first-quarter earnings of 11 cents a share, short of analysts' expectations. Share prices plunged $2.68, or 20.73%, to close at $10.25 on volume of 193,361 shares.

Novell

(NOVL)

reported

a loss of 4 cents a share for its second quarter on sales of $294 million. The market reacted sharply, sending Novell to close down 77 cents a share, or 7.72%, to $9.20 on volume of 21.1 million shares.

On the Big Board, the losers after Schwab included tobacco leaf dealer

Dimon

(DMN)

, which announced a wider-than-expected loss for a shortened fiscal year, revising upward to an expected loss of 29 cents to 31 cents a share from its earlier estimates of 8 cents to 12 cents a share, due to adjustments in its production capacity. Prices fell 50 cents, or 8.10%, to $5.67 on volume of 362,700 shares.

American depositary shares of British telecommunications company

Vodafone Group

(VOD) - Get Report

tumbled 75 cents, or 3.05%, to $23.82 on volume of 9.7 million shares after it reported a larger-than-expected loss for the year.