NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Monday's session.
MTR Gaming Group (MNTG) shares were indicated sharply higher even after the racetrack and gaming company reported a fourth-quarter adjusted loss of 20 cents a share, which was a penny wider than the Thomson Reuters average estimate. Revenue fell 7% from a year ago to $93.8 million, which was also below consensus. Still, after closing at $1.87 Friday, shares surged nearly 50% in the after-market session. The 50-day average daily volume for MTR Gaming is 55,000, according to the Nasdaq.
China Housing & Land Development (CHLN) may also trade higher Monday after the developer said it expects full-year 2010 revenue in a range of $179 million to $198 million, which is well above the Thomson Reuters average estimate of $151 million. The guidance came as China Housing & Land reported a fourth-quarter loss of 2 cents a share, which surprised analysts who had forecased a profit of 7 cents a share. Shares closed Friday at $4.36. The 50-day average daily volume for China Housing & Land is 313,000.
Novavax (NVAX) may also be among Monday's winners after Roth Capital initiated coverage of the biopharmaceutical company's stock with a buy rating and a price target of $5. Roth analysts said they believe a successful outcome of pivotal Phase II trials in Mexico for its H1N1 vaccine will bode well for shares and may result in more foreign partnerships. Novavax closed Friday at $2.33 a share. The 50-day average daily volume for Novavax is 1.52 million.Flagstar Bancorp (FBC) may lose ground Monday after the savings and loan holding company announced plans for a $250 million common stock offering. Flagstar said proceeds from the offering would be used for general corporate purposes, which may include "support for organic and opportunistic growth." Flagstar shares closed Friday at 78 cents. The three-month average daily volume for Flagstar is 1.58 million, according to Yahoo! Finance. -- Written by Robert Holmes in Boston. Check out all of Monday'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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