Anchor BanCorp, Melco Crown: Midday Volume Plays
NEW YORK ( TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Monday's session.
Anchor BanCorp Wisconsin (ABCW) tumbled by 34 cents, or 30.1%, to 80 cents after the company said it was exploring strategic alternatives to build its capital position, including a potential sale. The bank also terminated a deal with Badger Holdings for a prospective investment. Volume topped 1.08 million shares, compared to the 50-day average daily volume of 166,000, according to the Nasdaq.
Symyx Technologies (SMMX) jumped by $1, or 22.4%, to $5.47 after the life sciences company said it will be acquired by Accelrys (ACCL). Symyx shareholders will receive 0.7802 shares of Accelrys common stock for each share of Symyx. Volume topped 587,000 shares, compared to the 50-day average daily volume of 138,000.
CalAmp (CAMP) rallied by 48 cents, or 17.4%, to $3.24 after the wireless products and solutions company announced three new supply contracts worth $15.2 million, with a majority of revenue expected to be recognized in the current and next fiscal year. Volume topped 374,000 shares, compared to the 50-day average daily volume of 101,000.Melco Crown Entertainment (MPEL) gained 32 cents, or 6.9%, to $4.98 after JPMorgan analysts upgraded the stock to overweight from neutral and bumped its stock price target to $7 from $5. Volume topped 7.74 million shares, compared to the 50-day average daily volume of 7.11 million. -- 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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