MTR Gaming, Novavax: Early Volume Plays
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.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, 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
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
