NEW YORK ( TheStreet) -- Reed's (REED) was among several stocks trading near $5 were moving on above-average volume Tuesday after the company predicted a revenue increase of 20% or more this fiscal year.
Reed's jumped by 76 cents, or 45%, to $2.45 after Chairman and CEO Chris Reed said the beverage maker anticipates a "minimum of 20% increase in revenues for fiscal 2010." This came as Reed's said fourth-quarter revenue rose 21% over the prior year.
Reed's saw volume top 3.84 million shares, compared to the 50-day average daily volume of 67,000, according to the Nasdaq.
Meanwhile, Jones Soda (JSDA), which at one time signed a letter of intent to be acquired by Reed's in a $9.8 million deal, jumped by 12.2% to $1.20 after the company said Target (TGT) will being to sell its Gaba line of beverages in May. Volume topped 3.49 million shares, compared to the 50-day average daily volume of 422,000.Prana Biotechnology (PRAN) shares pulled back sharply one day after surging 78% on a Journal of Alzheimer's Disease published an article Monday about PBT2, the company's lead drug candidate. Prana said the article provided "new analysis that it is effective in reversing dementia symptoms." Shares of Prana were lately down 15% to $2.05, though, after the company announced plans to commence a definitive Phase IIb trial of PBT2 before the end of this year. Volume topped 2.26 million shares, compared to the 50-day average daily volume of 192,000. Journal Communications (JRN) rallied by 71 cents, or 13.4%, to $6 after the company reported first-quarter earnings of 9 cents a share, which was above the Thomson Reuters consensus of 7 cents a share. Volume topped 1.19 million shares, compared to the three-month average daily volume of 165,000, according to Yahoo! Finance. Among other big movers on high volume, Conolog (CNLG) rallied 19% to $1.82, Unilife (UNIS) gained 27.6% to $8, and Acura Pharmaceuticals (ACUR) slumped 15.4% to $6.68. -- Written by Robert Holmes in Boston. Check out all of Tuesday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr. Follow Robert Holmes on Twitter and become a fan of TheStreet.com on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All 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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV