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.
Tellabs (TLAB) slipped by 4 cents, or 0.6%, to $6.75 in the premarket session after the company said it will acquire acquires WiChorus for $165 million in cash. The deal adds WiChorus' SmartCore mobile packet core platform, the only currently available platform that is purpose-built for 4G, LTE and WiMax, with support for 3G. Tellabs said the transaction is expected to be dilutive to earnings in 2010, then additive to adjusted earnings in 2011 and beyond. The three-month average daily volume for Tellabs is 9 million, according to Yahoo! Finance.
Rodman & Renshaw (RODM) jumped by 31 cents, or 5.3%, to $6.20 in the premarket session after the company reported third-quarter earnings of 40 cents a share, coming in well ahead of the Thomson Reuters average estimate of 14 cents a share. Revenue surged more than 600% to $65.6 million, more than double what Wall Street had anticipated. The firm said it completed 32 financing transactions raising $634.7 million in the third quarter, compared to 25 transactions raising $399.4 million in the second quarter. The three-month average daily volume for is 473,000, according to Yahoo! Finance.
Taser (TASR) fell by 6 cents, or 1.3%, to $4.50 in the premarket session after the company recorded a third-quarter loss of five cents a share, coming in two cents shy of the Thomson Reuters average estimate. Taser said that, on a GAAP basis, gross margin for the third quarter sank to 56.9% from 60.8% from the year-ago quarter. On a non-GAAP basis, Taser said gross margin improved to 62.5% in the third quarter from 60.8% a year ago. The three-month average daily volume for is 386,000, according to Yahoo! Finance.
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