GigaMedia, NetSol: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.
GigaMedia (GIGM) slumped by 35 cents, or 8.4%, to $3.80 in the premarket session after the company reported second-quarter and third-quarter results that missed estimates. GigaMedia said it earned a penny a share on an adjusted basis in the second quarter on revenue of $37.7 million, compared to the Thomson Reuters average estimate for a profit of 9 cents a share on $42.7 million in sales. For the third quarter, the company had an adjusted profit of 3 cents a share on sales of $37.2 million, below consensus targets of 12 cents a share on $45.8 million. The 50-day average daily volume for GigaMedia is 766,000 shares, according to the Nasdaq.
Nova Measuring Instruments (NVMI) jumped by 43 cents, or 8.9%, to $5.25 in the premarket session after the company announce an additional $10 million in bookings, with most set for delivery in the first quarter of 2010. The 50-day average daily volume for Nova is 176,000 shares.
NetSol Technologies (NTWK) surged by 20 cents, or 27.7%, to 95 cents in the premarket session after the company issued strong guidance for its 2010 fiscal year. NetSol said it expects full-year revenue of $33 million to $35 million, above the consensus target of $31.46 million. NetSol also said it expects to return to GAAP net income for fiscal year 2010, compared with a GAAP net loss of 30 cents a share for fiscal year 2009. The 50-day average daily volume for NetSol is 189,000 shares.Limelight Networks (LLNW) rose by 2 cents, or 0.6%, to $3.81 in the premarket session after the company said it will acquire privately held EyeWonder in a cash-and-stock deal worth $110 million. Up to approximately 4.86 million additional shares of Limelight common stock will be issuable in 2011 if EyeWonder achieves certain financial results in 2010, the company said. The 50-day average daily volume for Limelight is 234,000. -- Written by Robert Holmes in Boston. Check out all of Monday'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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