Brazilian Telecom, Agria: Midday Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Tuesday's session.
Borders Group (BGP) fell by 25 cents, or 12.5%, to $1.76 after the retailer reported a third-quarter loss of 65 cents a share, compared to the consensus for a loss of 45 cents, the average of two analyst estimates. Sales fell 13% from a year ago to $595.5 million, also worse than expectations. Volume topped 770,000 shares, compared to the three-month average daily volume of 519,000, according to Yahoo! Finance.
ARCA Biopharma (ABIO) gave back 77 cents, or 17.8%, to $3.55, one day after the stock rallied on news that the company was given fast-track designation for its experimental drug Gencaro, a treatment for chronic heart failure. Volume topped 989,000 shares, compared to the 50-day average daily volume of 31,000, according to the Nasdaq.
Warner Music Group (WMG) lost 37 cents, or 16.2%, to $2.65 after the company reported a fiscal fourth-quarter adjusted loss of 3 cents a share, disappointing analysts who had expected a profit of 5 cents a share. On the positive side, revenue of $861 million was up nearly 1% from a year ago and above the $820 million consensus. Volume topped 556,000 shares, compared to the three-month average daily volume of 343,000, according to Yahoo! Finance.Agria (GRO) retreated by $1.31, or 18.6%, to $5.75, giving back much of Monday's 24% surge spurred by Origin Agritech's (SEED) announcement Saturday of the "world's first genetically modified phytase corn." Volume topped 2 million shares, compared to the three-month average daily volume of 343,000, according to Yahoo! Finance. Brazilian Telecom HOLDRs (TBH) rallied by $8.50, or 11.5%, to $11.50 before trading of the stock was halted at 11:30 a.m. EST for a news release. Investors posting on Internet message boards argued that the surge is overdone, and that math shows the stock is worth $4. Volume topped 323,000 shares by 11:30 a.m. EST, compared to the three-month average daily volume of 5,700, according to Yahoo! Finance. Dataram (DRAM) jumped by 65 cents, or 14.5%, to $5.13 in the absence of any company-specific news. Traders posting on Internet message boards said that Dataram is another storage stock following momentum higher, similar to Netlist (NLST). Volume topped 3.3 million shares, compared to the 50-day average daily volume of 183,000, according to the Nasdaq. -- 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV