Early Volume Plays Among Those Valued Below $10 (SURG, RAME, BKRS, TRBN, PFE)

By Monica Gerson
Benzinga Staff Writer
June 15, 2010 12:08 PM

Symbols: BKRS, RAME, SURG, TRBN, PFE

Tags: Jefferies & Company, Early Volume Plays

Posted in: News, Earnings, Pre-Market Outlook, Intraday Update, Markets, Movers

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:

The medical device company Synergetics USA (NASDAQ: SURG) announced Q3 earnings of $0.13 a share, as compared to a profit of $0.03 a share in the year-ago quarter. Following the news, shares of SURG rallied 6.6% to $2.91 in pre-market trading. The company has a 50-day average daily volume of 135,000.

The Tulsa, Oklahoma-based company RAM Energy (NASDAQ: RAME) is exploring strategic alternatives, including a sale, refinancing or recapitalization, for the company. Jefferies & Company is appointed as the adviser by the independent oil and gas company to review the strategic process. By 10:37 am, RAME shares surged 20.34%, to $2.13. The company has a 50-day average daily volume of 189,000.

Bakers Footwear (NASDAQ: BKRS) announced that it is going to be de-listed from the Nasdaq Composite Index as it has failed to achieve the minimum level of shareholders' equity mandatory to continue listing on the Nasdaq Capital Mark. Bakers is in talks with market makers in order to get its stock listed on the OTC Bulletin Board or the Pink Sheets. BKRS also announced a Q1 loss of $0.47 a share on $43.5 million revenue. The stock plunged 32.14% to $1.33 by 10:32 am today. It has a 50-day average daily volume of 37,000.

Trubion Pharmaceuticals (NASDAQ: TRBN) plunged today as Pfizer (NYSE: PFE) made an announcement that it will no longer develop the rheumatoid arthritis drug TRU-015. TRU-015 was being developed by PFE in collaboration with TRBN. Pfizer took the decision following the drug’s failure to meet its goal in a mid-stage clinical trial. PFE is yet to confirm whether it will continue the development of another rheumatoid arthritis drug SBI-087, which is also in the Phase 2 testing stage. By 10:46 am, TRBN declined 9.84%, to $3.3. TRBN’s 50-day average daily volume stands at 22,000.