USEC, PFSweb: Midday Volume Plays

NEW YORK (TheStreet) -- USEC (USU) was one of several stocks trading near $5 moving on above-average volume Tuesday after receiving a $200 million investment to develop its uranium fuel technology.

USEC shares jumped after nuclear power companies Toshiba Corp. and The Babcock & Wilcox Co. said they will jointly invest $200 million in the company to foster its uranium enrichment technology. Toshiba said the investment is a move to secure its front-end supply chain.

USEC jumped by 77 cents, or 18.2%, to $5.01. Volume topped 2.93 million shares, compared to the three-month average daily volume of 2.24 million, according to Yahoo! Finance.

Elsewhere, PFSweb (PFSW) dropped by 64 cents, or 14.9%, to $3.66 after the eCommerce solutions company announced a public offering of 2 million shares of common stock. Volume topped 92,000 shares, compared to the 50-day average daily volume of 470,000, according to the Nasdaq.

Cimatron (CIMT) also traded lower, falling by 48 cents, or 25%, to $1.44, after the CAD/CAM software products maker posted a first-quarter adjusted net profit of a penny a share on revenue of $7.8 million. That compares to a year-ago non-GAAP loss of 4 cents a share on revenue of $7.8 million. Volume topped 42,000 shares, compared to the 50-day average daily volume of 28,000.

Wave Systems (WAVX) slumped by 24 cents, or 8.1%, to $2.77 in the absence of any company-specific news. Volume topped 222,000 shares, compared to the 50-day average daily volume of 549,000.

-- Written by Robert Holmes in Boston.

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