DivX, Coldwater Creek: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Thursday's session.
DivX (DIVX) jumped by 96 cents, or 16%, to $6.97 after the digital media company late Wednesday reported a fourth-quarter adjusted profit of 7 cents a share, which was better than the Thomson Reuters average estimate for earnings of 2 cents a share. Revenue of $20.1 million was also above consensus. Looking ahead to the first quarter, DivX offered better-than-expected earnings and revenue guidance. Volume topped 198,000 shares, compared to the 50-day average daily volume of 167,000.
Bell Microproducts (BELM) gained 29 cents, or 6.5%, to $4.74 after the data storage company posted a fourth-quarter profit of 28 cents a share, which doubled the single analyst estimate for a profit of 14 cents a share. Sales of $837 million was up from a year ago and also beat the lone analyst prediction. Volume topped 287,000 shares, compared to the three-month average daily volume of 102,000.
Coldwater Creek (CWTR) added 48 cents, or 8.9%, to $5.89 after the apparel retailer's fourth-quarter revenue of $318.4 million exceeded estimates. While the company reported a wider-than-expected loss in the quarter, Coldwater offered in-line earnings guidance for the first quarter and better-than-expected earnings guidance for fiscal year 2011. Volume topped 641,000 shares, compared to the 50-day average daily volume of 950,000.
Celldex Therapeutics (CLDX) slid by 41 cents, or 7.4%, to $5.13. The sell-the-news reaction came after the biopharmaceutical company posted a fourth-quarter adjusted loss of 28 cents a share, which was a penny better than analysts had predicted. Revenue of $4.7 million in the quarter was well ahead of the $3.66-million consensus. Volume topped 239,000 shares, compared to the 50-day average daily volume of 357,000. -- 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.Select the service that is right for you!
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