Maguire Properties, Compugen: Midday Volume Plays
Maguire Properties said its first-quarter funds from operations, or FFO, was $35.6 million, or 72 cents a share, compared with a year-ago loss of $30.8 million, or 64 cents a share. On an adjusted basis, Maguire Properties said it had FFO of 5 cents a share, above the Thomson Reuters average estimate for earnings of 3 cents a share.
Early Tuesday, Maguire Properties said it has changed its name to MPG Office Trust effective immediately, and it will begin trading under the new name on May 17.
Shares of Maguire Properties jumped by 33 cents, or 10.5%, to $3.47. Volume topped 2.32 million shares, compared to the three-month average daily volume of 3.16 million, according to Yahoo! Finance.Elsewhere, ADDvantage Technologies Group (AEY) rallied by 70 cents, or 27.3%, to $3.26 after the cable television electronics company said second-quarter net income rose to 11 cents a share from 7 cents a share in the year-ago quarter. Revenue climbed 19% to $12.1 million, ADDvantage said. Volume topped 128,000 shares, compared to the three-month average daily volume of 13,000. Response Genetics (RGDX) surged by 73 cents, or 33.8%, to $2.88 after the company said it has signed an agreement with GlaxoSmithKline (GSK) to provide proprietary BRAF mutational analysis technology to assess BRAF gene mutations in human tumor samples. Volume topped 179,000 shares, compared to the 50-day average daily volume of 20,000, according to the Nasdaq. Compugen (CGEN) rose by 32 cents, or 7.3%, to $4.73 after the company announced the discovery and initial experimental validation of CGEN-928 as a drug target for the treatment of multiple myeloma. Volume topped 98,000 shares, compared to the 50-day average daily volume of 207,000. -- 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.
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