Early Movers: Pump Up the Volume
NEW YORK (TheStreet) -- Several small-cap stocks were poised to move on above-average volume during Wednesday's session.
China INSOnline (CHIO) rallied by 70 cents, or 70%, to $1.70 in the premarket session after the integrated licensed insurance services provider said full-year net income grew 10% from a year earlier to $9.18 million, while revenue jumped 31% to $18 million. The three-month average daily volume for China INSOnline is 90,000, according to Yahoo! Finance.
Active Power (ACPW) jumped by 29 cents, or 31.9%, to $1.20 in the premarket session after the company said it has received a second multimillion dollar order from one of the world's largest Internet search engine providers for more than 16 megawatts of its CleanSource uninterruptible power supply systems. Active Power called it the largest order in company history. The three-month average daily volume for Active Power is 202,000, according to Yahoo! Finance.
Progenics Pharmaceuticals (PGNX) tumbled by 38 cents, or 13.2%, to $2.49 in the premarket session after the company said it reached a deal with Wyeth (WYE) to regain worldwide rights to Relistor, a treatment for constipation caused by taking opioid pain drugs. The three-month average daily volume for Progenics is 126,000, according to Yahoo! Finance.Conseco (CNO) climbed by 84 cents, or 16.8%, to $5.83 in the premarket session after the insurer said hedge fund Paulson & Co. agreed to buy 16.4 million shares of common stock and warrants to purchase 5 million shares of common stock for an aggregate purchase price of $77.9 million. After the private sale, Paulson will own nearly 10% of Conseco's outstanding shares. The three-month average daily volume for Conseco is 7.3 million, according to Yahoo! Finance. American Capital (ACAS) rose by 28 cents, or 9%, to $3.40 in the premarket session after Grainger (GWW) agreed to purchase Imperial Supplies from American Capital. Terms of the deal were not disclosed. The three-month average daily volume for American Capital is 5.6 million, according to Yahoo! Finance. -- Written by Robert Holmes in New York.
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