Early Movers: Pump Up the Volume

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

CryptoLogic (CRYP) plummeted by $1.14, or 17.8%, to $5.28 in the premarket session after the company said uncertain macroeconomic conditions and sluggish wagering activity continued in the third quarter, contributing to a significant decline in wagering volumes at CryptoLogic in both casino and poker compared with the previous year. CryptoLogic said it expects to report third-quarter revenue of approximately $9.6 million and a trading loss of approximately $3.4 million. The lone analyst polled by Thomson Reuters expects revenue of $14.3 million in the quarter. The three-month average daily volume for CryptoLogic is 80,000, according to Yahoo! Finance.

Audiocodes (AUDC) jumped by 25 cents, or 9.7%, to $2.82 in the premarket session after Bank of America/Merrill Lynch upgraded the stock to buy from underperform. The three-month average daily volume for Audiocodes is 70,000, according to Yahoo! Finance.

AltiGen Communications (ATGN) jumped by 8 cents, or 8.7%, to $1 in the premarket session after the company said it has signed an exclusive agreement with Italian distributor and telecom equipment provider Hypercom. The company will direct the sale and distribution of AltiGen's Microsoft (MSFT)-certified applications through Telecom Italia. The three-month average daily volume for AltiGen is 24,000, according to Yahoo! Finance.

Cytori Therapeutics (CYTX) rose by 10 cents, or 2.7%, to $3.84 in the premarket session after the company on late Thursday said results of a procedure where stem and regenerative cells from a patient's own fat tissue were used to treat stress urinary incontinence showed the investigational treatment is "safe and feasible." The three-month average daily volume for Cytori is 289,000, according to Yahoo! Finance.

Spectrum Pharmaceuticals (SPPI) jumped by 35 cents, or 8%, to $4.75 in the premarket session in the absence of any company-specific news. Investor posts on Internet message boards speculated that the rise in share price was due to options expiration Friday. Others argued the company is ripe for a takeover by a larger company that could support the drugmaker's pipeline. The three-month average daily volume for Spectrum is 2.7 million, according to Yahoo! Finance.

-- Written by Robert Holmes in New York.

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