Tellabs, Zagg: Early Volume Plays

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

WSP Holdings (WH) dropped by 87 cents, or 19.9%, to $3.50 in the premarket session after the oil and gas equipment manufacturer reported a third-quarter loss of 11 cents per American depositary share, compared with a single analyst estimate for a profit of 19 cents. Revenue of $90.2 million in the quarter was down nearly 70% from a year earlier and was well below the lone analyst target of $171.3 million. The three-month average daily volume for WSP Holdings is 236,000, according to Yahoo! Finance.

Tellabs (TLAB) jumped by 29 cents, or 5.1%, to $6 in the premarket session after Soleil Securities upgraded the telecom equipment maker to buy from hold with a price target of $7.25. The 50-day average daily volume for Tellabs is 9.6 million, according to the Nasdaq.

AEterna Zentaris (AEZS) gained 11 cents, or 11.1%, to $1.10 in the premarket session after the company announced positive results for Phase 2 study for its AEZS-108 targeted cytotoxic peptide conjugate treatment for patients with advanced or recurrent endometrial cancer. The 50-day average daily volume for AEterna is 601,000 shares, according to the Nasdaq.

Double Eagle Petroleum (DBLE) fell by 24 cents, or 5.4%, to $4.25 in the premarket session after the company late Monday filed for a $200 million mixed securities shelf offering. The 50-day average daily volume for Double Eagle is 65,000, according to the Nasdaq.

Zagg (ZAGG) rose by 26 cents, or 6.3%, to $4.40 in the premarket session after the electronics accessories manufacturer said it will expand its European presence through a partnership with T-Mobile Germany. T-Mobile will carry Zagg's invisibleSHIELD for the Apple (AAPL) iPhone in each of their 800 company locations. The three-month average daily volume for Zagg is 180,000, according to Yahoo! Finance.

-- Written by Robert Holmes in New York.

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

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

>To order reprints of this article, click here: Reprints