NEW YORK (
) -- Several stocks trading near $5 were poised to move on above-average volume during Wednesday's session.
should rally sharply higher after
agreed to buy the blood glucose monitoring systems maker for $11.50 a share in a cash deal worth $215 million. The 50-day average daily volume for Home Diagnostics is 29,000, according to the
. After closing at $6.05 Tuesday, shares were surging more than 84% to $11.15 early Wednesday.
GT Solar International
should also trade higher Wednesday after the company late Tuesday posted a fiscal third-quarter profit of 25 cents a share on revenue of $173.6 million, easily surpassing the Thomson Reuters average revenue and earnings estimates. Looking ahead to 2010, GT Solar offered better-than-expected earnings guidance and a strong revenue forecast. The 50-day average daily volume for GT Solar s 939,000. The stock closed at $6 Tuesday and was jumping 16.2% in early trading Wednesday.
shares were indicated higher after the sound acoustic products maker swung to a fiscal first-quarter profit of $1.8 million, or 6 cents a share, although net income included $597,000 in non-cash unrealized gain on the revaluation of derivatives. Revenue of $5.3 million was up 114% from the year-ago quarter and topped the $4.58-million average target of two analysts. The 50-day average daily volume for American Technology is 51,000.
shares should gain ground Wednesday after the company said the Food and Drug Administration has approved its OLEPTRO extended release tablets, a once-daily formulation of the antidepressant trazodone, for the treatment of major depressive disorder (MDD) in adults. The 50-day average daily volume for Labopharm is 834,000. After it finished trading Tuesday at $2.61, the stock was jumping nearly 25% in early trading Wednesday.
Silicon Storage Technology
should trade higher after
(MCHP - Get Report)
said it will acquire the flash memory maker for $2.85 a share in an all-cash deal. Shares of Silicon Storage closed Tuesday at $2.69. The 50-day average daily volume for Silicon Storage is 376,000.
-- Written by Robert Holmes in Boston
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