ExpressJet, Entremed: Midday Volume Plays

NEW YORK (TheStreet) -- Several stocks trading under $5 were moving on above-average volume during Monday's session.

ExpressJet Holdings (XJT) jumped by 71 cents, or 27.7%, to $3.27 after UAL Corp. (UAL) announced that ExpressJet Airlines will operate 22 ERJ-145 aircraft under the United Express brand. Volume topped 707,000 shares, compared to the three-month average daily volume of 222,000, according to Yahoo! Finance.

China Architectural Engineering (CAEI) dropped by 37 cents, or 24.3%, to $1.15 after the company reported third-quarter earnings, saying that a dispute with a contractor over the Metro Red Line Project in Dubai negatively impacted results. Revenue were sliced in half from a year ago to $25.6 million, and gross margin sank to 2% from 31% in the year-ago quarter. Volume topped 1.5 million shares, compared to the 50-day average daily volume of 391,000, according to the Nasdaq.

China INSOnline (CHIO) fell by 37 cents, or 16.2%, to $2.65 after the company said fiscal first-quarter results were affected by a 79% decline in revenues from Online Insurance Advertising. Net revenue fell by 6% from a year ago to $5.12 million, the company said. Volume topped 1.1 million shares, compared to the 50-day average daily volume of 390,000, according to the Nasdaq.

EntreMed (ENMD) sank by 21 cents, or 20.2%, to 83 cents even after the company said it broke even on a per-share basis in the third-quarter, compared to a year-ago loss, while revenue rose 5% from a year ago to $3.7 billion. Volume topped 1.8 million shares, compared to the 50-day average daily volume of 543,000, according to the Nasdaq.

Ampal-American Israel Corp. (AMPL) rose by 33 cents, or 13.9%, to $2.71 after the company said a wholly owned subsidiary will purchase the current on-going business of 012 Smile Communications for 1.2 Billion New Israeli Shekels, or approximately $318 Million. Volume topped 257,000 shares, compared to the 50-day average daily volume of 38,000, according to the Nasdaq.

-- Written by Robert Holmes in New York.

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