Smart Modular, TierOne: Midday Volume Plays
NEW YORK ( TheStreet) -- Several small-cap stocks were moving on above-average volume during Wednesday's session.
Emerson Radio (MSN) jumped by 46 cents, or 32.2%, to $1.89 after the company posted fiscal second-quarter earnings of 12 cents a share, above the lone analyst estimate of 7 cents a share. Revenue slid 3.3% to $51.8 million, but also topped the lone consensus target of $48.65 million. Volume topped 402,000 shares, compared to the three-month average daily volume of 34,000, according to Yahoo! Finance.
Smart Modular Technologies (SMOD) surged by 80 cents, or 20.1%, to $4.78 after the company raised its first-quarter outlook due to end user demand, particularly in the PC and enterprise markets. Volume topped 1.1 million shares, compared to the 50-day average daily volume of 568,000, according to the Nasdaq.
Sypris Solutions (SYPR) climbed by 42 cents, or 15.4%, to $3.14 after the company announced that it has been awarded an Indefinite Delivery Indefinite Quantity (IDIQ) contract from the United States Department of Defense for its RASKL electronic key fill device. The contract is for a five-year period with a not-to-exceed value of $200 million. Volume topped 360,000 shares, compared to the 50-day average daily volume of 22,000, according to the Nasdaq.TierOne (TONE) dropped by 61 cents, or 35.7%, to $1.10 after the company late Tuesday said in a regulatory filing that provisions for loan losses totaled $120.2 million in the third quarter due to continued deterioration of property values and other challenges in the real estate market. With those loan losses, the bank's core capital and total risk-based capital ratios were approximately 4% and 6.09%, respectively, which classifies it as undercapitalized. Volume topped 1.1 million shares, compared to the 50-day average daily volume of 110,000, according to the Nasdaq. RHI Entertainment (RHIE) tumbled by 15 cents, or 13.7%, to 94 cents, continuing a decline that started Tuesday after the company said third-quarter library revenue dropped 78% due to unanticipated delays. Volume topped 1.4 million shares, compared to the 50-day average daily volume of 157,000, according to the Nasdaq. Hemispherx Biopharma (HEB) lost 11 cents, or 9.2%, to $1.09 after securities-related prosecution firm Dyer & Berens late Tuesday said it has launched a class action lawsuit against the company for failing to disclose and misrepresenting the fact that the Food and Drug Administration had requested several reports from the company before the New Drug Application for Ampligen could even be considered, thus delaying the possible approval of the drug by several months at a minimum. Volume topped 3 million shares, compared to the three-month average daily volume of 4.5 million, according to Yahoo! Finance. -- Written by Robert Holmes in New York. Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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