Early Movers: Pump Up the Volume

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

Tellabs (TLAB) slumped by 26 cents, or 3.9%, to $6.40 in the premarket session after the company said it swung to a third-quarter profit of $29 million, or 7 cents a share, compared with a year-ago loss of $999 million, or $2.51 a share. Revenue slid 8.3% from a year ago to $389 million. Analysts were looking for a profit of 6 cents a share on $394 million in sales, according to Thomson Reuters. Tellabs said it expects fourth-quarter revenue to be flat, plus or minus 3%. The three-month average daily volume for Tellabs is 9.2 million, according to Yahoo! Finance.

Elron Electronic Industries (ELRN) surged by $1.18, or 19.4%, to $7.26 in the premarket session after the company said it has received a non-binding indication of interest from a third party regarding a potential acquisition of Medingo, an Elron subsidiary. The three-month average daily volume for Elron is 116,000, according to Yahoo! Finance.

Matrixx Initiatives (MTXX) dropped by 63 cents, or 12.5%, to $4.40 in the premarket session after the company said the Food and Drug Administration has recently indicated it is unwilling to reverse its position regarding Zicam Cold Remedy nasal gel products. In June, Matrixx said the FDA issued a letter to the company with concerns about the marketing of Zicam. Matrixx will report earnings after the closing bell Monday. The three-month average daily volume for Matrixx is 1 million, according to Yahoo! Finance.

SuperGen (SUPG) jumped by 52 cents, or 21.9%, to $2.90 in the premarket session after the company said it will enter into a multi-year collaboration with GlaxoSmithKline (GSK) to discover and develop cancer therapeutics based on epigenetic targets. In connection with the transaction, SuperGen said it will receive $5 million upfront, inclusive of a $3 million common stock investment, priced at a premium to market. The three-month average daily volume for SuperGen is 232,000, according to Yahoo! Finance.

Arena Pharmaceuticals (ARNA) rose by 41 cents, or 9.5%, to $4.75 in the premarket session after the company said that data from the its BLOOM, or Behavioral modification and Lorcaserin for Overweight and Obesity Management, Phase 3 trial demonstrate its drug candidate Lorcaserin significantly increased excess weight loss, improved markers of cardiovascular risk and glycemic parameters, and was not associated with depression or suicidal ideation. The three-month average daily volume for Arena is 4.9 million, according to Yahoo! Finance.

-- Written by Robert Holmes in New York.

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