Sirius XM, Zagg: Early Volume Plays

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

Sirius XM (SIRI Quote) rose by a penny, or 2.1%, to 67 cents in the premarket session after the company late Thursday said Gary Parsons has resigned as chairman of the satellite-radio provider. Parsons, founder of XM Satellite Radio, will be replaced by independent director Eddy Hartenstein, the publisher and CEO of The Los Angeles Times. The three-month average daily volume for Sirius XM is 42.7 million, according to Yahoo! Finance.

Zagg (ZAGG Quote) dropped by $1.10, or 19.6%, to $4.50 in the premarket session after the company reported third-quarter earnings of 4 cents a share, missing the Thomson Reuters average estimate of 6 cents a share. Revenue in the quarter totaled $9.72 million, short of the consensus target of $10.49 million. The three-month average daily volume for Zagg is 194,000, according to Yahoo! Finance.

Lexicon Pharmaceuticals (LXRX Quote) jumped by 22 cents, or 15.8%, to $1.61 in the premarket session after the company late Thursday announced "positive" Phase 2 results of its investigational drug LX1031 in non-constipating irritable bowel syndrome. The three-month average daily volume for Lexicon is 1 million, according to Yahoo! Finance.

ICx Technologies (ICXT Quote) fell by 44 cents, or 8.1%, to $5 in the premarket session after the company late Thursday reported a third-quarter loss of 11 cents a share, missing the consensus target that called for a loss of 7 cents a share. Revenue slipped 3.4% to $42.8 million, also below estimates. In addition, the company offered weak revenue guidance for 2009. The three-month average daily volume for ICx is 24,000, according to Yahoo! Finance.

Blockbuster (BBI Quote) sank by 12 cents, or 15.5%, to 70 cents in the premarket session after the company late Thursday posted a third-quarter adjusted loss of 20 cents a share, worse than the average analyst target for a loss of 11 cents a share. Revenue dropped 21.5% to $910.5 million, also below consensus, as same-store sales dropped 18.3%. The three-month average daily volume for Blockbuster is 4.9 million, according to Yahoo! Finance.

Netlist (NLST Quote) added 17 cents, or 8.2%, to $2.24 in the premarket session, continuing a rally sparked Wednesday by the launch of Netlist's HyperCloud, the first 16-gigabyte, 2 vRank memory module for computer servers. The three-month average daily volume for Netlist is 143,000, according to Yahoo! Finance.

-- Written by Robert Holmes in New York.

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