Technitrol, Sycamore: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Wednesday's session.
Keryx Biopharmaceuticals (KERX) added 10 cents, or 3.5%, to $2.94 in the premarket session after the company initiated a Phase 3 registration trial of KRX-0401 for treatment of patients with advanced multiple myeloma. The 50-day average daily volume for Keryx is 1.5 million shares, according to the Nasdaq.
Technitrol (TNL) dropped by 70 cents, or 12.9%, to $4.71 in the premarket session after the electronic components company said it has commenced an offering of $50 million aggregate principal amount of 7% convertible senior notes. The three-month average daily volume for Technitrol is 8,700, according to Yahoo! Finance.
Playboy Enterprises (PLA) sank by 75 cents, or 19.5%, to $3.09 in the premarket session after Bloomberg reported that Iconix Brand (ICON) is stepping away from talks to buy the company, citing two sources familiar with the situation. However, the situation is still fluid and may be resolved soon, another source told Bloomberg. The three-month average daily volume for Playboy is 496,000.
Nexxus Lighting (NEXS) fell by 39 cents, or 11.3%, to $3.06 in the premarket session after the company priced a common stock offering of 5 million shares at $3 a share. The 50-day average daily volume for Nexxus is 14,000. Sycamore Networks (SCMR) tumbled by 93 cents, or 31.2%, to $2.05 in the premarket session as the company is now trading ex-dividend. The 50-day average daily volume for Sycamore is 702,000. -- Written by Robert Holmes in Boston. 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 TheStreet.com on Facebook.Select the service that is right for you!
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