NEW YORK ( TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Friday's session.
Labopharm (DDSS) was indicated to trade sharply lower Friday after the specialty pharmaceutical company said it has commenced an offering of up to $20 million of units, which each unit consisting of one common share and a warrant to purchase a portion of a common share. The 50-day average daily volume for Labopharm is 1.72 million, according to the Nasdaq. Shares closed Thursday at $2.01 and were down more than 15% in the after-market session.
China Direct Industries (CDII) should also trade lower after the Chinese basic materials and consulting company posted an adjusted first-quarter loss of 3 cents a share as revenue dropped 43% from a year ago to $22.3 million. Looking ahead to the full-year, China Direct said it continues to see its net income ranging between $8 million and $10 million on revenue ranging from between $130 million and $150 million. The 50-day average daily volume for China Direct is 1.27 million. The stock finished Thursday at $1.74 before slipping 3.5% in late trading.
Rainmaker Systems (RMKR) was also poised to lose ground after the sales and marketing software company offered weak guidance for 2010 as it has been notified by Oracle (ORCL - Get Report) that some of the programs it currently performs for Sun Microsystems will not be continued past Feb. 28. These programs accounted for approximately 13% of Rainmaker's fiscal 2009 annual revenue and 21% of fourth-quarter revenue. The 50-day average daily volume for Rainmaker is 23,000. Shares closed Thursday at $1.56 and fell nearly 15% in the after-market session.NeoStem (NBS - Get Report) is also poised to fall during Friday's session after the stem cell collection company priced a 5 million common stock offering at $1.35 a share, which is below Thursday's closing price of $1.62 a share. The three-month average daily volume for NeoStem is 70,000, according to Yahoo! Finance. -- 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.