Blockbuster, Hauppauge Digital: Early Volume Plays

BY Robert Holmes | 05/14/10 - 08:25 AM EDT

Stock quotes in this article: BBI, HAUP

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NEW YORK (TheStreet) -- Blockbuster (BBI ) was among several stocks trading below $5 poised to move on above-average volume Friday after the embattled video rental chain.

Blockbuster reported a first-quarter loss of 33 cents a share on revenue of $939.4 million, compared to the Thomson Reuters average estimate for a loss of 14 cents a share on revenue of $933.3 million. Excluding severance payments, costs for closing stores and other one-time expenses, Blockbuster matched the average analyst projection with a loss of 14 cents a share in the quarter.

"We expect the next 12 to 18 months will remain challenging," Blockbuster CFO Tom Casey said in a statement.

Shares of Blockbuster, which rallied 15% Thursday, were down 22.1% to 39 cents in Friday's premarket session. The three-month average daily volume for Blockbuster is 10.85 million, according to Yahoo! Finance.

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On the other hand, BioSphere Medical (BSMD ) jumped by $1.30, or 43.3%, to $4.30 in the premarket session after Merit Medical (MMSI ) said it will acquire the company for $4.38 per share in a $96 million cash deal. The 50-day average daily volume for BioSphere is 28,000, according to the Nasdaq.

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