This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

iBasis, Tower Semi: Early Volume Plays

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

Synovus Financial (SNV) rose by 7 cents, or 4.2%, to $1.75 in the premarket session even after Collins Stewart lowered its stock price target for the company's stock to $1.25 from $4. The firm said Synovus needs to restore lost credibility and reaffirm expectations that its dangerously high level of problem assets will soon decline. The three-month average daily volume for Synovus is 18.1 million, according to Yahoo! Finance.

Tower Semiconductor (TSEM) jumped by 11 cents, or 11%, to $1.11 in the premarket session after the company signed a $130 million contract with an Asian customer to provide know-how, training, and turnkey manufacturing solutions. The 50-day average daily volume for Tower is 412,000, according to the Nasdaq.

iBasis (IBAS) surged by 72 cents, or 31.9%, to $2.98 in the premarket session after KPN agreed to acquire the remaining 44% of iBasis for $3 a share cash, or $93.3 million. The 50-day average daily volume for iBasis is 80,000, according to the Nasdaq.

Spectrum Pharmaceuticals (SPPI) added 16 cents, or 3.4%, to $4.90 in the premarket session after the company announced a $19 million collaboration with Korea's Handok Pharmaceuticals to develop and commercialize Spectrum's experimental cancer drug. The 50-day average daily volume for Spectrum is 2.4 million, according to the Nasdaq.

CDC Corp. (CHINA) gained 16 cents, or 6.6%, to $2.58 in the premarket session after the company reported third-quarter earnings of 5 cents a share, beating the Thomson Reuters average estimate of 2 cents a share. Revenue fell 26.4% to $76.6 million, below the $79.7 million consensus. The 50-day average daily volume for CDC is 1 million, according to the Nasdaq.

Star Bulk Carriers (SBLK) was higher by 13 cents, or 3.8%, to $3.59 in the premarket session, one day before the company is set to report third-quarter earnings. Analysts are looking for a profit of a penny a share on revenue of $31.1 million, according to Thomson Reuters. The 50-day average daily volume for Star Bulk is 473,000, according to the Nasdaq.

-- Written by Robert Holmes in New York.

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

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs