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

Achillion, Emcore: Early Volume Plays

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

Helicos BioSciences (HLCS) dropped by 26 cents, or 19%, to $1.11 in the premarket session after the company said it has priced a registered direct offering of 6.4 million units at a price of $1 per unit. Each unit consists of one share of common stock and a warrant to buy 0.65 of a share of common stock at an exercise price of $1.4385 per share. Helicos said it anticipates gross proceeds of $6.4 million before deducting underwriting discounts and commissions and estimated offering expenses. The 50-day average daily volume for Helicos is 841,000 shares, according to the Nasdaq.

Achillion Pharmaceuticals (ACHN) surged by $1.13, or 52.6%, to $3.28 in the premarket session after the company offered positive preliminary Phase 1b proof of concept data with its ACH-1625 drug to treat hepatitis C. ACH-1625 is an inhibitor of HCV NS3 protease that was discovered and is being developed by Achillion. The 50-day average daily volume for Achillion is 46,000.

Emcore (EMKR - Get Report) jumped by 11 cents, or 11.7%, to $1.05 in the premarket session after the company late Tuesday reported a fiscal fourth-quarter loss of 11 cents a share, a penny better than the consensus between two analysts' targets, according to Thomson Reuters. Revenue fell 33% from a year ago to $40.5 million, although that was up 5% sequentially and bested the consensus target of $39.8 million. Looking ahead to the fiscal first quarter, Emcore expects revenue in a range of $41 million to $43 million, compared to a single analyst estimate of $40.6 million. The 50-day average daily volume for Emcore is 585,000.

GigaMedia (GIGM - Get Report) rose by 41 cents, or 10.8%, to $4.20 in the premarket session after the company said it has formed a strategic alliance with European online gambling site Mangas Gaming. The alliance will see GigaMedia sell 60% of its online gambling software business to Mangas, including Everest Poker, which is powered by GigaMedia's software. The 50-day average daily volume for GigaMedia is 680,000.

PC Mall (MALL) added 22 cents, or 3.9%, to $5.94 in the premarket session after the direct marketing company announced that SARCOM, a wholly-owned subsidiary, has acquired certain assets of Data Systems Worldwide. Data Systems Worldwide had unaudited revenues of approximately $6.4 million in the first nine months of 2009, the company said. The 50-day average daily volume for PC Mall is 43,000.

-- Written by Robert Holmes in New York.

Check out all of Wednesday'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
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!
ACHN $10.26 0.00%
EMKR $5.46 0.00%
GIGM $0.90 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs