Radian, Playboy: Midday Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Tuesday's session.
Radian Group (RDN) jumped by 79 cents, or 17.7%, to $5.26 after the company's CFO Bob Quint said during an analyst presentation that November delinquencies were "a little less" than expected, according to a Bloomberg report. Volume topped 5.8 million shares, compared to the 50-day average daily volume of 3.7 million, according to Yahoo! Finance.
Clearwire (CLWR) rose by 43 cents, or 7.6%, to $6.09 after UBS upgraded the stock to neutral from sell, raising the stock price target to $6 from $3. The firm said a recent capital raise largely eliminates the funding risk Clearwire had faced. Volume topped 2 million shares, compared to the 50-day average daily volume of 2.2 million, according to the Nasdaq.
Playboy Enterprises (PLA) added 7 cents, or 1.8%, to $4 following renewed takeover chatter, which indicates that Sir Richard Branson could be interested in making a bid for the company. Currently, Iconix (ICON) is seen as the front runner to acquire Playboy's assets. Volume topped 527,000 shares, compared to the 50-day average daily volume of 497,000.Tianyin Pharmaceutical (TPI) gained 42 cents, or 13.4%, to $3.56 after the Chinese company said it has received approvals from the Chinese State Food and Drug Administration to produce pediatric fever and cough oral liquid in dosage form. The company's market research indicates annual sales of this type of product to total approximately $1.1 billion in ChinaVolume topped 652,000 shares, compared to the 50-day average daily volume of 328,000. Thomson S.A. (TMS) American Depositary shares fell by 13 cents, or 8.2%, to $1.46 after Moody's lowered the company's probability of default to D after it filed for creditor protection Monday under French bankruptcy law. Bloomberg reports Thomson is seeking to reorganize $2.8 billion euros ($4.2 billion) of debt. Volume topped 84,000 shares, compared to the 50-day average daily volume of 49,000. -- 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.
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