Early Volume Plays Among Those Valued Below $10 (TRBN, JRJC, NAVR, RCMT)
Some of the stocks that are valued below $10 and have the potential to become one of the high volume movers in the early trading hours are:
Trubion Pharmaceuticals (NASDAQ: TRBN) yesterday announced that the Board of Appeal for the European Patent Office (EPO) upheld the Opposition Division's original decision dated September 11, 2008 to repeal Genentech and Biogen Idec's (NASDAQ: BIIB) European Patent 1176981. Trubion’s shares climbed 7.1% to $3.94 on the news in yesterday’s late trading session. TRBN has a 50-day average daily volume of 25,000.
The online financial company China Finance Online (NASDAQ: JRJC) announced yesterday that its Q1 profit of $0.14 a share on revenue of $15.2 million stood ahead beat the Wall Street view by a huge margin. Following the news, shares of JRJC surged 10.9% to $7.85 in after hours. The company has a 50-day average daily volume of 54,000.
The multimedia products company Navarre (NASDAQ: NAVR) today reported a Q4 adjusted profit of $0.07 a share on revenue of $138.3 million, beating the analyst expectations of $0.04 on sales of $120.6 million. Following the earnings report, shares of NAVR surged 14.8%, to $2.10 in pre-market trading. The company has a 50-day average daily volume of 74,000.
The enterprise business solutions company, RCM Technologies (NASDAQ: RCMT), announced today that CDI Corp (NYSE: CDI) has proposed to buy all outstanding shares of RCMT at $5.20 per share in cash. The buyout price signifies a 48.5% premium to yesterday’s closing price of $3.50. According to RCMT’s board of directors, the company would not benefit by pursuing the deal as structured presently by CDI. Shares of RCMT rallied 45.7% to $5.10 in the pre-market session. The company has a 50-day average daily volume for RCM Technologies of 24,000.
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