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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 - Get Report) 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 - Get Report) 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 - Get Report) 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.

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SYM TRADE IT LAST %CHG
ATHX $1.16 0.00%
COOL $1.39 0.00%
HT $6.40 0.00%
AAPL $128.95 0.00%
FB $78.99 0.00%

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