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China BAK, Vical: Midday Volume Plays

NEW YORK ( TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Tuesday's session.

China BAK Battery (CBAK - Get Report) jumped by 35 cents, or 15.7%, to $2.58 on market chatter that Google (GOOG) will use China BAK's lithium polymer cell-based battery in the Google Nexus One phone, according to Briefing.com. Volume topped 2.43 million shares, compared to the 50-day average daily volume of 842,000, according to the Nasdaq.

Magic Software (MGIC - Get Report) rallied 38 cents, or 20.1%, to $2.25 after the company declared a cash dividend of 50 cents per share, payable Jan. 25 to shareholders of record on Jan. 11. Volume topped 106,000 shares, compared to the 50-day average daily volume of 13,000.

China Wind Systems (CWS) jumped by 68 cents, or 12.4%, to $6.16 on the wind power equipment supplier's debut on the Nasdaq. Previously, the stock traded on the Over-The-Counter Bulletin Board. Volume topped 428,000 shares.

Vical (VICL - Get Report) was unchanged at $3.36 but continued to trade on heavy volume one day after announcing that a safety review board recommended that the company continue a late-stage clinical trial of its Allovectin-7 drug treatment for metastasized melanoma. Volume topped 1.72 million shares, compared to the 50-day average daily volume of 79,000.

Athersys (ATHX - Get Report) gave back 54 cents, or 10.2%, to $4.74, retracing some of the stock's 450% surge from the previous week. The rally was sparked by Athersys' announcement that it had entered into an agreement with Pfizer (PFE - Get Report) to develop and market MultiStem for treatment of inflammatory bowel disease. Volume topped 2.24 million shares, compared to the three-month average daily volume of 2.41 million.

-- Written by Robert Holmes in Boston.

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