This Day On The Street
Continue to site
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

SeaChange, Tenet: Early Volume Plays

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

SeaChange (SEAC - Get Report) jumped by 56 cents, or 9.6%, to $6.39 in the premarket session after the company late Wednesday reported third-quarter adjusted earnings of 11 cents a share, according to a Kaufman Brothers analyst, beating the Thomson Reuters average estimate of 6 cents a share. SeaChange also topped revenue expectations. Looking ahead, the company offered in-line revenue guidance for 2011. Kaufman maintained its buy rating and price target of $8 following the earnings release. The 50-day average daily volume for SeaChange is 320,000, according to the Nasdaq.

Tenet Health Care (THC - Get Report) rose by 25 cents, or 5.3%, to $4.98 in the premarket session after Soleil Securities upgraded the stock to buy from hold with a price target of $6.25. The firm said Tenet's turnaround has gained traction and the company has now posted two consecutive quarters of earnings before interest, taxes, depreciation and amortization, or EBITDA, growth of more than 50%. The three-month average daily volume for Tenet is 8.6 million, according to Yahoo! Finance.

Novavax (NVAX - Get Report) gained 9 cents, or 2.6%, to $3.52 in the premarket session after Global Hunter Securities initiated coverage of the stock with a buy rating and a price target of $7.25. On Wednesday, Novavax reported "positive" clinical results from a pivotal Phase II study of its H1N1 influenza vaccine in Mexico. The 50-day average daily volume for Novavax is 3.9 million.

Wet Seal (WTSLA) slumped by 12 cents, or 4%, to $2.90 in the premarket session even after the company said same-store sales fell 5% in November, a smaller decline than some analysts had anticipated. The 50-day average daily volume for Wet Seal is 1.1 million.

CytRx Corp. (CYTR - Get Report) jumped by 9 cents, or 8.3%, to $1.17 in the premarket session, building on an 8% rally Wednesday, after Merriman Curhan Ford initiated coverage of the stock with a buy rating. On Wednesday, CytRx said the Food and Drug Administration lifted its clinical hold of the company's drug candidate Arimoclomol for ALS, or Lou Gehrig's disease. The 50-day average daily volume for CytRx is 1 million.

-- Written by Robert Holmes in New York.

Check out all of Thursday'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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
CYTR $3.36 0.00%
NVAX $5.45 -0.37%
SEAC $3.84 -0.52%
THC $32.26 -1.10%
AAPL $95.03 -2.90%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs