ThermoGenesis, Power-One: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Friday's session.
ThermoGenesis (KOOL) should trade sharply higher Friday after the medical device maker announced a new enhanced distribution agreement with GE Healthcare, a unit of General Electric (GE), for its AXP AutoXpress System used in the processing of cord blood. The announcement came as ThermoGenesis reported fiscal second-quarter earnings that ere unchanged from the year-ago quarter. The 50-day average daily volume for ThermoGenesis is 194,000, according to the Nasdaq. Shares closed Thursday at 51 cents and were up nearly 18% in the after-market session.
Power-One (PWER) should rally more than 20% Friday after the power conversion company posted a fourth-quarter profit of 5 cents a share, which surprised analysts who had expected a loss of 3 cents a share in the quarter. Revenue was up 9% to $142 million, also well ahead of forecasts. The 50-day average daily volume for Power-One is 1.17 million. The stock finished Thursday at $3.10 and surged 22.3% in late trading.
Powerwave Technologies (PWAV) jumped by 56 cents, or 25%, to $2.80 in the premarket session after the wireless solutions company reported a fourth-quarter profit of a penny a share, disappointing analysts who had expected earnings of 3 cents a share, according to Thomson Reuters. Revenue of $142.6 million was down 21% from a year ago and below the $148.3-million consensus. The 50-day average daily volume for is 918,000. Shares ended trading Thursday at $1.35 and were down 11.1% in the after-hours session.EntreMed (ENMD) shares were indicated to open lower after the pharmaceutical company said late Thursday it has completed a registered direct offering of 3.84 million shares of its common stock, at a purchase price of 65 cents per share, to a single accredited institutional investor. Shares closed Thursday at 70 cents and were down 7.1% in late trading. The 50-day average daily volume for EntreMed is 323,000. -- Written by Robert Holmes in Boston. Check out all of Friday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
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