Early Movers: Pump Up the Volume

NEW YORK (TheStreet) -- Several small-cap stocks were poised to move on above-average volume during Tuesday's session

China Information Security Technology (CPBY Quote) surged by 63 cents, or 9.5%, to $7.30 in the premarket session after newly signed contracts in the third quarter were valued at approximately $30.05 million, an increase of over 14% from the second quarter. The three-month average daily volume for China Information Security Tech is 363,000, according to Yahoo! Finance.

DryShips (DRYS Quote) jumped by 31 cents, or 4.6%, to $7.08 in the premarket session after the stock was upgraded to a buy rating from hold at Lazard. The three-month average daily volume for Dryships is 23.1 million, according to Yahoo! Finance.

CIT Group (CIT Quote) tumbled by 18 cents, or 17.3%, to 86 cents in the premarket session after Chairman and CEO Jeffrey Peek announced his plans to resign from both positions at the end of the year. Earlier, Reuters reported that bondholders have given a tepid response to a debt exchange offer aimed at repairing the struggling commercial lender's balance sheet. The three-month average daily volume for CIT is 111 million, according to Yahoo! Finance.

Dyax (DYAX Quote) climbed 34 cents, or 10.1%, to $3.72 in the premarket session after Sanofi-Aventis (SNY Quote) said it would acquire Dyax's ophthalmic partner, Fovea Pharmaceuticals. Separately, Sanofi-Aventis said it will also license a Phase 1 drug candidate from Merrimack Pharmaceuticals, a Dyax licensee. The three-month average daily volume for Dyax is 292,000, according to Yahoo! Finance.

Pacific Sunwear (PSUN Quote) rose by 48 cents, or 7.8%, to $6.62 in the premarket session after FBR Capital Market analysts upgraded the apparel retailer to outperform. The three-month average daily volume for is 821,000, according to Yahoo! Finance.

-- Written by Robert Holmes in New York.