Smart Modular, Cosan: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.
Smart Modular Technologies (SMOD) shares rallied by 87 cents, or 14.3%, to $6.95 in the premarket session after the memory subsystems company raised its fiscal second-quarter earnings guidance to a range of 14 cents to 16 cents a share, well ahead of the Thomson Reuters average estimate of 8 cents a share. The company's second-quarter revenue guidance is also above consensus. Smart Modular also offered better-than-expected earnings and revenue guidance for its fiscal third quarter. The 50-day average daily volume for Smart Modular is 622,000, according to the Nasdaq.
Cosan Limited (CZZ) jumped by 60 cents, or 7.7%, to $8.40 in the premarket session after Reuters reported that the sugar and ethanol company signed a $12 billion ethanol deal with Royal Dutch Shell (RDS.A). The three-month average daily volume for Cosan is 1.8 million, according to Yahoo! Finance.
Ness Technologies (NSTC) gained by 45 cents, or 8.1%, to $5.99 in the premarket session after the business services company won a public tender worth $19 million to provide online land registry services to the Geodesy, Cartography and Cadastre Authority of the Slovak Republic. The 50-day average daily volume for Ness Technologies is 160,000.Highway Holdings (HIHO) jumped by 24 cents, or 13.4%, to $2.02 in the premarket session after the integrated manufacturer reported a fiscal third-quarter profit of 7 cents a share, more than doubling year-ago results. The 50-day average daily volume for Highway Holdings is 15,000.
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