Eastman Kodak, Preferred Bank: Early Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Thursday's session.
Eastman Kodak (EK) rallied 84 cents, or 17.7%, to $5.59 in the premarket session after the company reported fourth-quarter adjusted earnings of $1.08 a share, which excludes a benefit related to asset sales and other one-time items. It was the first profit for the company in over a year and was well ahead of the Thomson Reuters average estimate for a profit of 18 cents a share. The three-month average daily volume for Eastman Kodak is 6.19 million, according to Yahoo! Finance.
Preferred Bank (PFBC) jumped by 37 cents, or 25.9%, to $1.80 in the premarket session after the company swung to a fourth-quarter profit of 5 cents a share as delinquent loans were slashed by more than half to $13.4 million from the prior quarter. Analysts polled by Thomson Reuters had expected a loss of 21 cents a share. The 50-day average daily volume for Preferred Bank is 65,000, according to the Nasdaq.
Repligen (RGEN) climbed by 24 cents, or 6.8%, to $3.78 in the premarket session after the company said it has extended its longstanding relationship with General Electric's (GE) GE Healthcare Bio-Sciences by entering into a five-year supply agreement for recombinant Protein A, a consumable used in the manufacture of monoclonal antibodies. The 50-day average daily volume for Repligen is 126,000.Vical (VICL) added 18 cents, or 6.1%, to $3.12 in the premarket session after the company said it has completed enrollment of the planned 375 subjects in its multinational Phase 3 trial of Allovectin-7 in patients with metastatic melanoma. The 50-day average daily volume for Vical is 789,000.
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