Dynegy, MetroPCS: Midday Volume Plays

NEW YORK (TheStreet) -- Several small-cap stocks were moving on above-average volume during Thursday's session.

Dynegy (DYN) surged by 22 cents, or 11.8%, to $2.09 even after the company said it lost $212 million, or 25 cents a share, in the third quarter. Dynegy's quarterly loss on a continuing operations basis was 10 cents a share, compared to expectations the company would report a profit of three cents a share. Volume topped 13.8 million shares, compared to the three-month average daily volume of 14.4 million, according to Yahoo! Finance.

MetroPCS (PCS) dropped by 76 cents, or 11.5%, to $5.86 after the company declined to offer a 2010 outlook due to uncertainties. This comes after the wireless company reported third-quarter earnings and revenue that exceeded Wall Street's targets. Volume topped 15.9 million shares, compared to the three-month average daily volume of 9.8 million, according to Yahoo! Finance.

Royale Energy (ROYL) jumped by 48 cents, or 20.4%, to $2.83 after the company announced a new field discovery near its successful Lonestar field. Volume topped 1.4 million shares, compared to the 50-day average daily volume of 418,000, according to the Nasdaq.

Smith Micro Software (SMSI) tumbled by $2.35, or 25.9%, to $6.72 after the company issued downside guidance for 2009, saying it expects full-year revenue in a range of $105 million to $110 million, compared to estimates for revenue of $111.3 million. Smith Micro did beat the Thomson Reuters average estimate with its third-quarter earnings. Volume topped 1.4 million shares, compared to the 50-day average daily volume of 298,000, according to the Nasdaq.

Hot Topic (HOTT) lost 72 cents, or 9.7%, to $6.74 even after the teen retailer reported better-than-expected same-store sales results for October and said it expects third-quarter earnings to be at the high end of its previous guidance range of 11 cents to 13 cents a share. Volume topped 1.8 million shares, compared to the 50-day average daily volume of 975,000, according to the Nasdaq.

Lakes Entertainment (LACO) jumped by 58 cents, or 20.4%, to $3.42 after the company reported third-quarter earnings of nine cents a share, swinging from a year ago loss and better than the Thomson Reuters average estimate of three cents a share. Volume topped 186,000 shares, compared to the 50-day average daily volume of 43,000, according to the Nasdaq.

-- Written by Robert Holmes in New York.

Check out all of Thursday's high-volume, under-$5 stocks at the Dollar Store

Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.

>To order reprints of this article, click here: Reprints