NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Friday's session.
Ruth's Hospitality Group (RUTH) sank by 12 cents, or 4%, to $2.88 after the restaurant company set the terms for its previously announced common stock rights offering. On Jan. 20, Ruth's Hospitality will distribute one transferable subscription right for each share of common stock, which will entitle the holder to purchase 0.579232 shares of common stock at an exercise price of $2.50 per share. The 50-day average daily volume for Ruth's Hospitality is 381,000, according to the Nasdaq.
Sequenom (SQNM) jumped by 25 cents, or 6%, to $4.40 after the company agreed to pay $14 million to settle a shareholder class action lawsuit, which will be funded by insurance proceeds. Additionally, Sequenom has agreed to issue a number of shares of common stock to the plaintiffs' class. These shares shall constitute 9.95% of the total shares then outstanding. The 50-day average daily volume for Sequenom is 4.24 million.
FalconStor Software (FALC) tumbled by 64 cents, or 14.3%, to $3.85 after the company said late Thursday that it expects a fourth-quarter loss of 2 cents to 3 cents a share due to a shortfall in projected revenue caused by lower software licenses. Analysts are projecting a profit of 7 cents a share, according to Thomson Reuters. The company also advised investors not to continue to rely on any other aspects of its previously issued financial guidance for 2009. The 50-day average daily volume for FalconStor is 143,000.
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 + 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