This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Brocade, Rigel, ARM: Early Volume Plays

NEW YORK ( TheStreet) -- Several stocks trading under $10 were poised to move on above-average volume during Tuesday's session.

Rigel Pharmaceuticals (RIGL - Get Report) was among the most active pre-market trades, shedding 7 cents, or 0.7%, to $9.36, on pre-market volume of close to 300,000 shares traded. The 50-day average daily volume for Rigel is just under 600,000 shares, according to the Nasdaq. The big news on Tuesday was an announcement from AstraZeneca and Rigel that the companies had signed an exclusive licensing deal a Rigel arthritis drug. Rigel received a $100 million upfront payment and as much as $345 million in potential future payments.

ARM Holdings (ARMH) dropped 12 cents, or close to 1.3%, to $9.26 in the premarket session, with more than 100,000 shares being traded early on Tuesday. The 50-day average daily volume for ARM is 2.1 million, according to the Nasdaq. ARM made several announcements at this week's Mobile World Congress, including deals with Samsung Electronics and ST-Ericsson for next-generation mobile phone devices.

Brocade Communications Systems (BRCD - Get Report) rose by 4 cents, or 0.6%, to $6.63, with more than 44,000 shares traded, the tenth-most active stock on the Nasdaq early on Tuesday. Brocade announced a deal with McAfee (MFE) on Tuesday morning to develop network security solutions. The 50-day average daily volume for Brocade is 16.5 million, according to the Nasdaq.

Sequenom (SQNM - Get Report) jumped by 20 cents, or 4.4%, to $4.72 in the premarket session, after announcing the launch of a new fetal sex determination test. More than 56,000 shars in Sequenom had been traded; the 50-day average daily volume for Sequenom is 3.4 million, according to the Nasdaq.

-- Written by Eric Rosenbaum in New York.

Check out all of Tuesday's high-volume, under-$10 stocks at the Dollar Store

Follow TheStreet.com on Twitter and become a fan on Facebook.
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
ARMH $47.60 0.00%
BRCD $10.38 0.00%
RIGL $2.83 0.00%
SQNM $2.80 0.00%
AAPL $122.37 0.00%

Markets

Chart of I:DJI
DOW 17,745.98 -5.41 -0.03%
S&P 500 2,108.63 +0.06 0.00%
NASDAQ 5,128.7850 +17.0520 0.33%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs