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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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 - Get Report) 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 - Get Report) 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 - Get Report) 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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SPPI $6.07 -1.90%
SNV $28.12 0.00%
SBLK $4.58 -1.30%
TSEM $16.12 -0.83%
AAPL $129.95 -0.36%


DOW 18,193.17 -21.25 -0.12%
S&P 500 2,110.49 -0.25 -0.01%
NASDAQ 4,980.5780 -7.3120 -0.15%

Partners Compare Online Brokers

Free Reports

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