Dynavax, CFS Bancorp: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Tuesday's session.
Dynavax Technologies (DVAX) shares were set to rally Tuesday after the biopharmaceutical company announced initiation of a large-scale Phase 3 trial for HEPLISAV, its investigational adult hepatitis B vaccine. The 50-day average daily volume for Dynavax is 568,000, according to the Nasdaq. The stock finished at $1.44 Monday and gained more than 7% in the after-hours session.
CFS Bancorp (CITZ) was indicated higher Tuesday after the savings and loan holding company reported a fourth-quarter profit of 19 cents a share, compared with the single analyst estimate for a loss of 16 cents a share. CFS Bancorp said results were positively impacted by a lower provision for losses on loans, higher net interest income, and an increase in bank owned life insurance income. The 50-day average daily volume for CFS Bancorp is 17,000. After closing Monday at $3.37, the stock rallied nearly 10% in late trading.
Terremark Worldwide (TMRK) was set to trade sharply lower Tuesday after the IT solutions company reported a fiscal third-quarter loss of 13 cents a share, which was worse than the Thomson Reuters estimate for a loss of 8 cents a share. Looking ahead, Terremark delivered weak revenue guidance for fiscal year 2011. The 50-day average daily volume for Terremark is 439,000. After falling 4.8% to $7.79 Monday, the stock was down another 9.6% in the after-hours session.
LCA Vision (LCAV) was set to trade on increased volume after the laser vision correction services provider reported a fourth-quarter loss of 19 cents a share, which was narrower than the 49-cents-a-share loss analysts had expected. Revenue of $22 million was down from a year ago but also exceeded expectations. The 50-day average daily volume for is 183,000. Shares finished trading Monday at $5.91. -- Written by Robert Holmes in Boston. Check out all of Tuesday's high-volume, under-$5 stocks at the Dollar Store Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.Select the service that is right for you!
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