E*Trade, Hanmi Financial: Early Volume Plays

NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.

Novavax (NVAX) shares were indicated lower in Monday's premarket session after the company terminated negotiations with ROVI Pharmaceuticals for a collaboration on Novavax's virus-like-particle-based vaccines against influenza in the country of Spain. The 50-day average daily volume for Novavax is 1.84 million, according to the Nasdaq. The stock closed Friday at $2.22 and was down more than 8% in early trading.

Hanmi Financial (HAFC) should trade on above-average volume after the company said it has retained Cappello Capital to explore strategic alternatives. Last month, shares of Hanmi surged following a report in a South Korea newspaper that said Woori America Bank was considering taking a 51% majority stake in the Korean holding company. The 50-day average daily volume for Hanmi Financial is 1.03 million. Shares finished trading Friday at $1.73.

SciClone Pharmaceuticals (SCLN) may trade higher Monday after it and Sigma-Tau announced additional positive results in a clinical study examining Zadaxin as a vaccine adjuvant to enhance the response to the H1N1 vaccine. The 50-day average daily volume for SciClone is 374,000. The stock closed Friday at $2.68.

E*Trade Financial (ETFC) may trade on higher than normal volume after the online broker said late Friday it would start charging $9.99 or less per stock or option trade, eliminating its $12.99 commission tier. High-volume customers will continue to pay $7.99 per trade. The 50-day average daily volume for E*Trade is 39.5 million.

-- Written by Robert Holmes in Boston.

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