NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
SciClone Pharmaceuticals (SCLN) rose 8.3% to $3 in the premarket session after the company and partner Sigma-Tau announced positive preliminary results in a clinical study examining Zadaxin to enhance immune response to the H1N1 vaccine. According to investigators, Zadaxin treatment given with the H1N1 vaccine led to a "highly statistically significant increase" in the percentage of subjects who seroconverted at 21 days after vaccination, when compared to those who received the H1N1 vaccine alone. The 50-day average daily volume for SciClone is 320,000, according to Yahoo! Finance.
YRC Worldwide (YRCW) shares were set to open higher after Standard & Poor's Ratings Services raised its corporate credit rating on the trucking company to CCC- from SD (selective default). Credit analyst Anita Ogbara also raised the senior unsecured issue-level ratings to CC from D on YRC's remaining notes that were subject to its exchange offer, as well as a 6 recovery rating, indicating negligible (zero to 10%) recovery of principal in a payment default scenario. Ogbara said that YRC'w liquidity position remains constrained, due to a $45 million maturity on April 15. The 50-day average daily volume for YRC Worldwide is 13 million shares.
Hersha Hospitality Trust (HT) shares were indicated to open 11% lower after the company announced a public offering of 35 million common shares. The three-month average daily volume for Hersha Hospitality is 333,000, according to Yahoo! Finance.Netlist (NLST) was also set to start Tuesday's session lower after the company filed for a $30 million mixed securities shelf offering. The 50-day average daily volume for is 4.79 million. KKR Financial (KFN) should open lower after the company said it expects to record charges in the fourth quarter to total as much as $80 million due to declining value of its residential mortgage-backed securities portfolio and some corporate loans. As a result, KKR Financial said its fourth-quarter results could range from a loss of 5 cents a share to a profit of a penny a share, compared with the Thomson Reuters average estimate for a profit of 27 cents a share. The three-month average daily volume for KKR Financial is 1.69 million shares. -- Written by Robert Holmes in Boston. Check out all of Tuesday'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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