NEW YORK (TheStreet) -- China Direct Industries (CDII) was one of several stocks trading near $5 were poised to move on above-average volume Thursday after the Chinese company posted quarterly results.
China Direct said late Wednesday it had a second-quarter profit of 6 cents a share, swinging from a year-ago loss of 6 cents a share. Revenue climbed 13% from a year ago to $23.4 million. Looking ahead, China Direct said it continues to see full-year net income of between $8 million and $10 million on revenue ranging from between $130 million to $150 million.
China Direct shares jumped by 21 cents, or 13.5%, to $1.77 in the premarket session. The 50-day average daily volume for China Direct is 387,000, according to the Nasdaq.
Top Dividend Stocks Under $5
Elsewhere, NexMed (NEXM) shares were poised to trade higher after the company said late Wednesday that results from a pre-clinical study showed that Vitaros, the company's NexACT-based alprostadil product, significantly promoted healing of deep tissue wound. Vitaros is currently in late-stage development for the treatment of erectile dysfunction.NexMed shares closed Wednesday at 42 cents and were up more than 3.5% in early trading Thursday. The 50-day average daily volume for NexMed is 3.93 million. Express-1 Expedited Solutions (XPO) was also set to trade higher after the transportation services company notched a first-quarter profit of 3 cents a share, compared the break-even quarter a year ago. Revenue was up 58% to $31.6 million, the company said. Shares of Express-1 closed Wednesday at $1.51. The three-month average daily volume for Express-1 is 54,000, according to Yahoo! Finance. Taseko Mines (TGB) should also gain ground Thursday after the company said it has entered into a gold stream transaction with Franco-Nevada Corp. Taseko sad it will receive staged cash deposits in aggregating $350 million to be paid during mine construction as well as 2 million Franco-Nevada warrants to be issued on the date of the first advance of the cash payment. For each ounce of gold delivered to Franco-Nevada, Taseko will receive a further cash payment of $400, the company said. Following the announcement, Taseko's stock was upgraded to outperform from market perform by Raymond James analysts. Shares closed Wednesday at $5.52 and were up more than 11% in the premarket session Thursday. The three-month average daily volume for Taseko is 2.07 million. -- Written by Robert Holmes in Boston. Check out all of Thursday'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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