Merix, Keryx Biopharma: Early Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
Merix (MERX) jumped by 53 cents, or 22.8%, to $2.85 in the premarket session after the company late Monday reported fiscal second-quarter earnings of $500,000, or 2 cents a share, compared with a year-ago loss of $6.1 million, or 29 cents a share. Revenue fell to $71.3 million from $76.9 million in the year-ago period, although Merix said that despite seasonal factors, it has continued to see "very good bookings" during the month of December. The 50-day average daily volume for Merix is 107,000.
Keryx Biopharmaceuticals (KERX) gained 22 cents, or 8.8%, to $2.73 in the premarket session after the company announced a special protocol assessment agreement with the Food and Drug administration for a Phase III registration program of Zerenex, its iron-based phosphate binder for the treatment for hyperphosphatemia in patients with end-stage renal disease (ESRD). The 50-day average daily volume for Keryx is 1.61 million shares.
Wave Systems (WAVX) rose by 10 cents, or 6.3%, to $1.68 in the premarket session after the company said it received $5.7 million in software license and maintenance orders for a global automaker. The 50-day average daily volume for Wave Systems is 214,000 shares.Zoom Technologies (ZOOM) jumped by 60 cents, or 9%, to $7.25 in the premarket session after Global Hunter Securities initiated coverage of the stock with a buy rating and a price target of $10. The firm said it expects continued growth ahead driven by strong domestic demand. The 50-day average daily volume for Zoom is 137,000 shares.
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