LeapFrog, Echelon: Early Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Thursday's session.
Echelon (ELON) dropped by 79 cents, or 9.9%, to $7.20 after the system and network infrastructure company notched a fourth-quarter loss of 9 cents a share, which was narrower than a loss of 18 cents a share, which analysts had predicted. However, Echelon offered first-quarter earnings and revenue guidance that was below Wall Street's consensus. Piper Jaffray analysts downgraded the stock to underweight from neutral following the report. Volume topped 206,000 shares in the first 30 minutes of trading, compared to the 50-day average daily volume of 285,000, according to the Nasdaq.
Glu Mobile (GLUU) slumped by 23 cents, or 18.4%, to $1.02 after the mobile phone game maker surprised analysts with a fourth-quarer loss of 13 cents a share. Glu Mobile also offered first-quarter earnings and revenue guidance that is below year-ago levels. Volume topped 145,000 shares, compared to the 50-day average daily volume of 118,000.
LeapFrog Enterprises (LF) rallied by 71 cents, or 19%, to $4.44 after technology-based learning products maker notched a fourth-quarter profit of 46 cents a share, which was well above the 24-cent-a-share consensus. LeapFrog offered in-line revenue guidance for 2010, adding that it expects "expect significant sales and earnings growth to continue in 2010 and beyond." Volume topped 961,000 shares, compared to the three-month average daily volume of 244,000, according to Yahoo! Finance.Augusta Resource (AZC) jumped by 44 cents, or 20.4%, to $2.60 after the mining company said it will sell 100% of the life of mine silver and gold production from its Rosemont Copper Project to Silver Wheaton (SLW). Volume topped 288,000 shares, compared to the three-month average daily volume of 238,000. -- Written by Robert Holmes in Boston. Check out all of Thursday'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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