CombinatoRx, Electro-Optical Sciences: Early Volume Plays
NEW YORK (TheStreet) -- Several stocks trading near $5 were poised to move on above-average volume during Thursday's session.
CombinatoRx (CRXX) jumped by 17 cents, or 13.5%, to $1.43 in the premarket session after the biopharmaceutical company swung to a fourth-quarter profit of 57 cents a share from a year-ago loss of 43 cents a share. Revenue spiked higher by 145% to $8.6 million, the company said. The 50-day average daily volume for CombinatoRx is 2.67 million, according to the Nasdaq.
Bakers Footwear (BKRS) rallied by 22 cents, or 13.8%, to $1.82 in the premarket session after the shoe retailer reported a fourth-quarter profit of 73 cents a share, which was up sharply from a year-ago profit of 7 cents a share. Sales rose nearly 4% to $57.6 million, the company said. Bakers Footwear also said that for the first seven weeks of fiscal 2010, comparable store sales increased 2.3%. The 50-day average daily volume for Bakers Footwear is 14,000.
Electro-Optical Sciences (MELA) plummeted by $1.91, or 20.9%, to $7.25 in the premarket session after the melanoma diagnosis device company said it has received additional questions from Food and Drug Administration regarding the review status of the pre-market approval application of its MelaFind device for early melanoma detection. The 50-day average daily volume for Electro-Optical Sciences is 277,000.Omnova Solutions (OMN) should trade higher Thursday after the specialty chemicals maker posted a fourth-quarter profit of 17 cents a share, which was above the Thomson Reuters average estimate of 10 cents a share. Revenue of $183.9 million was up nearly 15% from a year ago and beat the single analyst estimate of $179 million. The three-month average daily volume for Omonva is 339,000, according to Yahoo! Finance. The stock closed Wednesday at $7.40 and was up more than 6% in late trading. -- 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.
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