Early Movers: Pump Up the Volume
NEW YORK ( TheStreet) -- Several small-cap stocks were poised to move on above-average volume during Thursday's session
Solta Medical (SLTM) jumped by 56 cents, or 25%, to $2.80 in the premarket session after the company said it received approval for a laser device to treat pigmentation. Solta said its Fraxel re:store Dual Laser System can be used both on the face and large body areas to address clearance of pigmentation in a single treatment. The three-month average daily volume for Solta is 89,000, according to Yahoo! Finance.
McClatchy (MNI) tumbled by 53 cents, or 13.2%, to $3.49 in the premarket session after the company reported third-quarter earnings that fell short of the Thomson Reuters average estimate. Revenue dropped 23% from a year ago and also missed expectations. The three-month average daily volume for McClatchy is 2.2 million, according to Yahoo! Finance.
Gray Television (GTN) was rising by 9 cents, or 3.8%, to $2.46 in the premarket session after the company raised its revenue guidance for the third quarter to a range of $66 million to $66.5 million, up from the previous range of $63 million to $64 million, which Gray Television said was due to political issue advertising related to the current national debate on health care reform. Analysts expect third-quarter revenue of $63.6 million, according to Thomson Reuters. The three-month average daily volume for Gray Television is 1.2 million, according to Yahoo! Finance.BioSante Pharmaceuticals (BPAX) climbed 15 cents, or 8.2%, to $1.97 in the premarket session after Oppenheimer resumed coverage of the company's stock with an outperform rating and a stock price target of $6. The ratings change comes a day after BioSante completed its merger with Cell Genesys. The three-month average daily volume for BioSante is 460,000, according to Yahoo! Finance. Threshold Pharmaceuticals (THLD) added 17 cents, or 5.1%, to $3.50 in the premarket session after the company announced a licensing agreement granting Eleison Pharmaceuticals exclusive worldwide rights to glufosfamide, which has been evaluated in clinical trials for pancreatic cancer, small cell lung cancer, ovarian cancer and soft tissue sarcoma. The three-month average daily volume for Threshold is 176,000, according to Yahoo! Finance. Celsion (CLSN) was up 28 cents, or 8%, to $3.79 in the premarket session after the company said it received official approval from China's State Food and Drug Administration for its Clinical Trial Application for ThermoDox. The approval will allow Celsion to include Chinese clinical trial sites in its Phase III ThermoDox HEAT trial for the treatment of primary liver cancer. The three-month average daily volume for Celsion is 61,000, according to Yahoo! Finance. -- Written by Robert Holmes in New York.
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