Interstate Hotels, Neuralstem: Midday Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Friday's session.
Interstate Hotels & Resorts (IHR) surged by 93 cents, or 73.2%, to $2.20 after Hotel Acquisition, a joint venture between private-equity fund Thayer Hotel Investors and Shanghai Jin Jiang International Hotels, will acquires the company for $2.25 a share in an all cash transaction worth $307 million. Volume topped 4.38 million shares, compared to the three-month average daily volume of 79,000, according to Yahoo! Finance.
Neuralstem (CUR) jumped by 32 cents, or 18.1%, to $2.09 after the company said that a Phase I trial to treat Amyotrophic Lateral Sclerosis (ALS or Lou Gehrig's disease) with its spinal cord stem cells has been approved by the Institutional Review Board at Emory University in Atlanta. Volume topped 2.09 million shares, compared to the three-month average daily volume of 246,000.
Airvana (AIRV) added $1.29, or 20.7%, to $7.53 after 72 Mobile Holdings, a company to be owned by S.A.C. Private Capital, GSO Capital Partners, Sankaty Advisors and ZelnickMedia, will acquire the company for $7.65 in cash in a $530 million deal. Volume topped 10.6 million shares, compared to the 50-day average daily volume of 172,000, according to the Nasdaq.Raptor Pharmaceutical (RPTP) dropped by 60 cents, or 24.5%, to $1.85 after the company said institutional investors to purchase nearly 3.75 million units in a $7.5 million securities offering. Volume topped 304,000 shares, compared to the 50-day average daily volume of 76,000. LDK Solar (LDK) lost $1.06, or 13.5%, to $6.78 after the company priced an offer of 18.9 million American Depositary shares at $7 a share. The $90 million in net proceeds will pay down short-term debt and to fund a polysilicon production plant and the expansion of the company's solar module business. In addition, LDK Solar disclosed that VMS Investment Group and its affiliates have agreed to subscribe to between $50 million to $80 million of preference shares of a Cayman Islands subsidiary. Volume topped 20.25 million shares, compared to the three-month average daily volume of 4.17 million. -- Written by Robert Holmes in Boston. Check out all of Friday'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 Plus 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