Javelin Pharmaceuticals, EDAP: Early Volume Plays

NEW YORK (TheStreet) -- Several stocks trading near $5 were moving on above-average volume during Monday's session.

EDAP TMS S.A. (EDAP) jumped by 42 cents, or 13.3%, to $3.53 after the medical-device maker said it has received European approval for its new lithotripter, the Sonolith i-move. The device is used for the ultrasound localization of kidney stones. Volume topped 391,000 shares, compared to the 50-day average daily volume of 143,000, according to the Nasdaq.

Netlist (NLST) rose by 26 cents, or 7.7%, to $3.62 after the memory-subsystems maker announced the qualification of its HyperCloud memory component on Super Micro Computer high-density servers. Volume topped 460,000 shares in the first 45 minutes of trading Monday, compared to the 50-day average daily volume of 1.01 million.

PremierWest Bancorp (PRWT) gained 6 cents, or 8.4%, to 75 cents after Briefing.com noted market chatter regarding a stock newsletter that suggested PremierWest could be an acquisition target for KeyCorp (KEY). Volume topped 2.24 million shares, compared to the 50-day average daily volume of 1.44 million.

Javelin Pharmaceuticals (JAV) rallied by 82 cents, or 61.2%, to $2.16 after the company terminated its merger agreement with Myriad Pharmaceuticals (MYRX) after receiving a higher $141 million takeover offer from Hospira (HSP), which valued shares of Javelin at $2.20 per share. Myriad's offer for Javelin was worth $81 million, or $1.27 per share, based on Friday's closing prices. Volume topped 9.91 million shares, compared to the three-month average daily volume of 457,000, according to Yahoo! Finance.

-- Written by Robert Holmes in Boston.

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