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China Infrastructure Investment: Midday Volume Plays

NEW YORK ( TheStreet) -- China Infrastructure Investment (CIIC) was among several stocks trading on above-average volume Wednesday on speculation the company was a takeover target.

China Infrastructure Investment rose as high as $2.58 at the start of trading Wednesday after word spread on Internet message boards that an unnamed Chinese newspaper said the company is a potential takeover target. Shares jumped more than 21% Tuesday on the rumor, with momentum carrying into Wednesday's session.

However, China Infrastructure Investment's stock pulled back to $2.13 after the purported Chinese newspaper report was met with criticism by traders. Volume topped 6 million shares, compared to the 50-day average daily volume of 94,000, according to the Nasdaq.

IceWEB (IWEB) was another stock up on increased share volume. Shares rose by 7 cents, or 18.4%, to 45 cents after the data storage company said it has partnered with Google (GOOG - Get Report).

IceWEB said its Enterprise Visualization Appliance, which will be offered with pre-fused aerial and satellite imagery, will be sold by Google Earth Enterprise Resellers in North America. Volume topped 1.05 million shares, compared to the three-month average daily volume of 906,000.

Elsewhere, Synergetics USA (SURG - Get Report) rallied by 90 cents, or 48.7%, to $2.75 after the medical device company said it has entered into a $32 million agreement with Alcon (ACL) for the right to sell certain Synergetics' patented products worldwide.

Synergetics and Alcon also agreed to settle all pending litigation between the companies. Volume topped 904,000 shares, compared to the 50-day average daily volume of 69,000.

Leading Brands (LBIX - Get Report) jumped by 57 cents, or 25.1%, to $2.84 after the beverage and food products company said it swung to a full-year profit of 30 cents in 2009 from a loss of $1.42 a share the year prior. In the fourth quarter, Leading Brands posted net income of $100,000, the first time it has recorded net income in its seasonally slowest quarter. Volume topped 385,000 shares, compared to the 50-day average daily volume of 24,000.

-- Written by Robert Holmes in Boston.

Check out all of Wednesday's high-volume, under-$5 stocks at the Dollar Store. View the Dollar Store portfolio on StockPickr.

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CIIC $0.00 900.00%
GOOG $649.00 1.20%
IWEB $0.02 0.00%
LBIX $3.51 0.29%
SURG $6.66 1.06%


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