Pacific Ethanol, ZymoGenetics: Early Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Thursday's session.
Pacific Ethanol (PEIX) shares rallied more than 20% after the company said it has resumed production at its Magic Valley facility, which is now producing and selling ethanol and feed products. Production at the facility was suspended in February due to poor market conditions. The 50-day average daily volume for Pacific Ethanol is 983,000 shares, according to the Nasdaq. Late Wednesday, shares jumped 20.9% to 95 cents.
Christopher & Banks (CBK) was set to slide Thursday after the apparel retailer reported third-quarter earnings of 19 cents a share, worse than the Thomson Reuters average estimate for a profit of 21 cents a share. Sales fell 7.7% from a year ago to $132 million, matching consensus. The company also said it expects fiscal fourth-quarter same-store sales to decline in the high single digits. The three-month average daily volume for Christopher & Banks is 211,000 shares, according to Yahoo! Finance. The stock finished Wednesday at $7.66 but fell nearly 9% to $6.98 in the late trading session.
ZymoGenetics (ZGEN) shares dropped 10.6% in Wednesday's after-hours session and should open lower Thursday after the biotech company announced a 12 million common stock offering. The 50-day average daily volume for ZymoGenetics is 390,000 shares. Shares closed Wednesday at $6.77 but fell to $6.05 in the late trading session.Hot Topic (HOTT) shares were poised to slide after the teen retailer late Wednesday said same-store sales fell 10.9% in December. Hot Topic also revised its fourth-quarter earnings guidance lower, now expecting a profit of 18 cents to 20 cents a share, below its prior guidance of 23 cents to 26 cents and worse than the Thomson Reuters consensus of 24 cents a share. The 50-day average daily volume for Hot Topic is 1.35 million shares. Shares were down 5.7% to $5.62 in the after-hours session Wednesday. Zix Corp. (ZIXI) was set to rally Thursday after the Internet-based software company late Wednesday reaffirmed its fourth-quarter guidance for earnings of a penny to 2 cents a share, compared to analysts' expectations that it will break even in the quarter. Revenue should fall between $7.9 million and $8.1 million, Zix said, in line with the Thomson Reuters consensus target of $7.98 million. Zix also offered stronger-than-expected earnings and revenue guidance for 2010. The 50-day average daily volume for Zix is 353,000 shares. The stock closed at $1.70 Wednesday before rising 7.7% in the late trading session. -- Written by Robert Holmes in Boston. Check out all of Thursday'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