August 27, 2009 08:30 ET Reports Strong Market Movers: Fannie Mae, Vonage Holdings Corp, Dell, Spongtech Delivery Systems Inc

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Wednesday morning began with news of Senator Ted Kennedy's death at age 77. The much respected Senator died after a long battle with a brain tumor. Kennedy served in the Senate since 1962, making him the third longest serving senator in history. The Dow logged its sixth straight higher close Wednesday with a very small gain. This is its highest level since November. New-home sales shot up 9.6 percent to a 433,000 annual pace in July, after a 9.1-percent increase in June. The number blew past economists' expectation for a 1.6-percent increase and supports the common belief that the recession is coming to an end.

ProStockMonitor continues to follow an array of stocks which includes Fannie Mae, Vonage Holdings Corp, Boeing Co, Ford Motors and Dell in addition to the many small-cap stocks on our watch list. Fannie Mae continues to be one of the higher volume stocks closed lower ending it streak of four days closing higher. Vonage Holdings Corp again had a stellar day with a massive share price and volume increase. Vonage closed up 36.5% with volume 12 times what it was on Monday. Dell closed slightly higher Wednesday. Look for Dell to report earning later today.

ProStockMonitor continues to track Spongtech Deliver Systems Inc. This small-cap stock climbed for its third consecutive day returning to levels it has not seen since mid-June. The company issued two press releases Wednesday supporting this solid share price and volume movement. Spongetech traded more than 188 million shares and closed up 15% to 19.2 cents.

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