South Financial, Majesco: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Friday's session.
The South Financial Group (TSFG) was set to rally Friday after the company's Carolina First Bank subsidiary said it has been approved as a preferred lender under the U.S. Small Business Administration Preferred Lender Program. The 50-day average daily volume for South Financial is 3.64 million, according to the Nasdaq. South Financial shares closed Thursday at 68 cents.
Majesco Entertainment (COOL) shares should open lower Friday after the video-game company reported a fourth-quarter adjusted loss of 6 cents a share, compared with the consensus of two analyst estimates for a profit of 11 cents a share. While revenue of $23.9 million in the quarter was better than analysts had expected, Majesco's full-year earnings and revenue view disappointed. The 50-day average daily volume for Majesco is 251,000. The stock closed Thursday at $1.19.
Athersys (ATHX) should trade lower Friday after the company filed late Thursday for a common stock and warrants offering of 20 million shares. The 50-day average daily volume for Athersys is 2.84 million. Shares finished Thursday's session at $3.47.Hersha Hospitality Trust (HT) should open Friday's session on the downside after it said it priced an offering of 45 million shares at $3 a share. The stock closed Thursday at $3.32. The three-month average daily volume for Hersha Hospitality is 371,000, according to Yahoo! Finance. -- Written by Robert Holmes in Boston. Check out all of Friday'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
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV